ISLAMABAD: In the wake of the coronavirus outbreak in the country, Pakistan has approached multilateral creditors to seek debt moratorium, a local newspaper reported.
According to the report, Pakistan’s $2.3 billion external debt will mature in the next three months and debt payments will burden the national kitty in its efforts to fight coronavirus.
Talking to a private news channel, Minister for Economic Affairs Hammad Azhar said that the government is in contact with the world financial institutions including World Bank, International Monetary Fund, Asian Development Bank and other conventional banks for seeking assistance regarding writ off facility of debt for underdeveloped nations.
He said, “We will have to approach international banks, ADB and IMF, for availing 600 million dollars loan, besides, one and half billion rupees from other conventional banks to meet the uprising challenges.”
The minister admitted the figures of declining imports and exports in the country due to fighting against coronavirus pandemic encircling almost all the nations around the world.
The Minister said the government is monitoring the evolving situation day by day due to coronavirus in the region.
