New York September 23 2022: Given the climate-induced disaster in Pakistan, we are seeking debt relief from bilateral Paris Club creditors, says Pakistan’s Finance Minister Miftah Ismail.
“We are neither seeking, nor do we need, any relief from commercial banks or Eurobond creditors. We have a $1 billion bond due in December which we will pay on time and in full.” he added
We have been servicing all our commercial debt and will continue to do so. Our Eurobond debt is only $8 bn due between now & 2051. That’s not a large burden.
A significant portion of our debt is from friendly countries who have said they will re-roll their deposits.
