ISLAMABAD: Finance Ministry said on Tuesday arrangements had been made to repay or roll over this fiscal year’s $3.7 billion debt.
“This should not be any cause of concern as arrangements have been made for the rollover/repayment of this debt,” the ministry said in a statement.
Pakistan’s economy has been in turmoil for months due to an acute balance of payment crisis, with its central bank reserves falling to cover just a month of controlled imports. There have been concerns the South Asian country could face a default on its external payment obligations, especially if it fails to resume an IMF deal, which it has been trying to negotiate since February.-Reuters
Pakistan faces $3.7bn debt payments in May, June: report
According to a press release, Finance Ministry on Tuesday, clarified that arrangements have been made for the rollover/repayment of debt becoming due at the end of June 2023, said a press release.
The ministry said that the media has carried a news that 3.7 billion dollar has to be repaid by the government by the end of June 2023, which is correct. However, this should not be any cause of concern as arrangements have been made for the rollover/repayment of this debt. It may also be noted that during this period significant inflows are also in the pipeline. The coalition government has averted the default and the economy is now on a course to stability and growth.
Copyright Business Recorder, 2023
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