Under the G-20 Debt Service Suspension Initiative (DSSI) framework, the Republic of Korea resolved on Monday to delay Pakistan's loan of $19.911 million.
The loan, whose original repayment date was between July and December 2021, will now be returned in semi-annual payments over a six-year period, with a one-year grace period in between. These specifics were revealed in a news statement from the Economic Affairs Division (EAD).
Pakistan's development partners have provided critical assistance, allowing the G-20 DSSI to free up fiscal space to address the nation's pressing economic and health needs. The overall amount of debt that will be suspended under the DSSI framework, which covers the May 2020 to December 2021 payback term, totals $3,686 million.
With regard to deferred debt repayments under the G-20 DSSI, Pakistan has so far successfully finalised and signed 104 agreements with 21 bilateral creditors, totaling $3,633 million.
The total amount of deferred payments has increased to $3,653 million with the most recent signature of the aforementioned agreement. The final agreements to be finalised under the G-20 DSSI are still being negotiated.
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