The Federal Minister for Information and Broadcasting, Fawad Chaudhary during a media conference in Islamabad said that Pakistan has received major debt relief from G20 countries amid the COVID-19 pandemic as the world’s leading economies has suspended Pakistan’s debt of $3.7 billion by the end of this year.
Fawad Chaudhary said that “This is yet another positive development for the country’s economy”,
The G20 countries, Back in April 2020, have provided a major relief to Pakistan by postponing debt payments worth $12 billion in the current fiscal year and approved the time period up to 2.5 years for the payments of loan installments and interest.
It must be noted that in order to ‘promote coordinated health and economic response, The Prime Minister Imran Khan had called for a ‘Global Initiative on Debt Relief’ for developing countries amid COVID-19 crisis on April 12.
The Premier urged the international community in a video message for taking an initiative on debt relief for the developing countries and also invited United Nations (UN) Secretary-General António Guterres to work with him in advancing the objectives of a coordinated response.
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