China and Saudi Arabia have the lion's share in the $1.795 billion debt restructuring Pakistan is seeking from G-20 countries.
An official told Business Recorder that Pakistan's debt liabilities to G20 countries are due in June and December 2020 with US$612 million due to Saudi Arabia and US$210 million due to China.
On condition of anonymity, he added that although decision making in G-20 forum is not done on the desire of any member country, yet Pakistan expects favourable support from friendly countries when the debt restructuring matter will come under consideration at the forum.
On Monday, Adviser To Prime Minister On Finance, Hafeez Sheikh, while talking to German and French Ambassadors who called on him stated that Pakistan's $1.8 billion due loans have been rescheduled including those from China, KSA and UAE. "Pakistan is not going for any commercial loan rescheduling yet," added the Adviser.
Sources further revealed that Pakistan is seeking deferment of $415.3 million liabilities by G-20 countries for May-June 2020, which includes $415 million principal amount and $95.24 million interest payment.
From July 2020 onward to December 2020, Pakistan's total debt liabilities to G-20 have been worked out at $1380.14 million with principal amount of $1152.78 million and interest payment of 227.36 million.
Total loan repayment due from May-December 2020 has been worked out by the Economic Affairs Division at $1795 million with $1472 million principal and $322.06 million interest on the loans.
Repayment to other countries are as follows: (i) US$23 million to Canada;(ii) US $183 million to France;(iii) $99 million to Germany;(iv) $160 million to Italy;(v) $373 million to Japan;(vi) $47 million to South Korean;(vii) $14 million to Russia;(viii) $1 million to UK and $128 million to the US.
Pakistan's total debt stock of G20 countries stood at US$20.075 billion by the end of February 2020 with China owed US$9.380 billion the largest lender to Pakistan, followed by Japan US$5.519 billion, France US$1.5 billion, Germany $1.2 billion and the US $1.108 billion. Other G20 countries debt stock includes; (i) Saudi Arabia US$847 million; (ii) Canada US$384 million; (iii) Italy US$160 million; (v) Korea US$ 422 million etc. on February 2020.
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