Pakistan Gets $367 Million Debt Relief from Japan
Noor Ahmed, Secretary, Economic Affairs Division, and Kuninori Matsuda, Ambassador of Japan to Pakistan signed these agreements.
The signing ceremony was witnessed by senior officials of the Japanese Embassy.
In the wake of COVID-19, the G20 countries, together with the Paris Club creditors, announced a Debt Service Suspension Initiative (DSSI) to provide much-needed fiscal space to stressed countries in order to meet their urgent economic and health needs.
The government of Pakistan, taking advantage of this initiative, entered into negotiations with 21 creditor countries for debt suspension amounting to $1.6 billion under DSSI Phase-I (April – December 2020).
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