South Korea has deferred a $19.911m Pak loan under the G-20 Debt Service Suspension Initiative (DSSI) framework. The amount had to be repaid between July and December 2021, a press release issued by the Economic Affairs Division (EAD) said, adding that due to the support extended by the development partners of Pakistan, the G-20 DSSI has provided the fiscal space – much needed to deal with urgent health and economic needs.

The total amount of debt, that is to be suspended under the DSSI framework, covering the period of repayment from May 2020 to December 2021, stands at $3,686 million. Pakistan has already concluded and signed 104 agreements with 21 bilateral creditors for the deferment of its debt repayments under the G-20 DSSI, amounting to $3,633 million. The signing of the agreement brings this total to $3,653 million. Negotiations for the remaining agreements to be signed under the G-20 DSSI are on-going.

Credit: Independent News Pakistan-INP