Debt suspension

The Group of 20 nations, representing the world’s biggest economies, have agreed to extend the suspension of debt payment for an additional six months to support vulnerable countries in the fight against the coronavirus pandemic. The decision gives developing countries

G20 agrees to additional six-month debt suspension

RIYADH: The Group of 20 nations, representing the world’s biggest economies, have agreed to extend the suspension of debt payments by an additional six months to support the most vulnerable countries in their fight against the coronavirus pandemic. The G-20

Family appeals for assistance to pay feudal lord’s debt

ISLAMABAD: A family from Sindh, who is currently residing in Islamabad, has appealed for assistance to pay their debts to a feudal lord. Husna Sheikh, whose family hails from Kashmore district in Sindh, narrated her ordeal and said that they

COVID-19 caused rise in debt to GDP ratio: Govt

ISLAMABAD: The Ministry of Finance has blamed the COVID-19 pandemic over a negatively impacted economy of Pakistan. The Ministry of Finance said that the coronavirus pandemic negatively impacted the economy and slowed down the reforms program of the government which

Pakistan’s fiscal deficit to reach 9.5% of GDP in FY21: Fitch

NEW YORK: Global ratings agency Fitch has said Pakistan’s fiscal targets presented in the FY2020-21 budget will be challenging to meet amid the economic and health crisis associated with the coronavirus pandemic. Fitch had affirmed Pakistan’s rating at ‘B-’ with

Pakistan unlikely to receive additional debt relief from G20 nations

ISLAMABAD: Pakistan has not been included in the list of countries to receive any additional financial debt relief benefit from G20 nations. Planning Minister Asad Umar admitted the news while addressing his first post-budget news conference. “Pakistan would also have

Pakistan receives debt relief from Paris Club

PARIS: The Paris Club of creditor nations have agreed to suspend interest and principal repayments from Pakistan and three other countries Chad, Ethiopia, and Republic of Congo in the latest wave of countries given financial leeway to help them focus

IMF emergency loan

Amid the ongoing economic slump due to the coronavirus pandemic, Pakistan received a breather when the IMF approved a nearly $1.4 billion emergency loan. This will certainly cushion against the economic fallout and meet the balance of payment for a

IMF approves $1.386 billion disbursement for Pakistan

WASHINGTON: The International Monetary Fund has approved $1.386 billion disbursement to Pakistan under the Rapid Financing Instrument to address the economic impact of COVID-19 pandemic. According to a statement, the Executive Board of the IMF approved the funds to meet

Debt relief

A few days back, Prime Minister Imran Khan appealed to the leaders of rich countries, the UN Security-General and heads of global financial institutions to provide immediate debt relief to developing countries, such as Pakistan, battling the coronavirus pandemic which

Sukkur woman ‘sells’ daughter to settle debt

SUKKUR: A debt-ridden woman in Sukkur sold her young daughter to settle a debt with a private money lender. Police received tip-off about a child marriage being carried out in the rural area of Salehpat. They conducted a raid at

Moody’s downgrades Britain debt outlook to negative

LONDON: Credit ratings agency Moody’s has downgraded the outlook for Britain’s debt, citing mounting policy challenges amid the Brexit debate. The agency cut the outlook to negative from stable but kept the debt at the investment grade Aa2. The ratings

Incumbent govt acquires public debt upto Rs7,500bn

ISLAMABAD: The incumbent government has acquired a record public debt of Rs7,509 billion in its first year of power. According to sources, the foreign debt incurred from August 2018 to August 2019 stood at Rs2,804 billion, while the internally accumulated