debt
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Debt servicing: SBP-held forex reserves fall to $7.96b
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[ad_1] A Pakistani currency dealer counts US dollars at a currency exchange shop. – AFP/File KARACHI: Pakistan’s central bank registered a reduction of $956 million in its foreign exchange reserves due to debt payments, which fell to $7.96 billion, a statement said Thursday. In a statement, the State Bank of Pakistan (SBP) said the total liquid…
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PSO to recover Rs594b in circular debt | The Express Tribune
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[ad_1] ISLAMABAD: The supply of expensive liquefied natural gas (LNG), during the past four seasons, to domestic consumers has resulted in a steep hike in circular debt, trapping gas-utilities and Pakistan State Oil (PSO). The gas sector is currently facing circular debt of Rs1.5 trillion, with LNG being the major contributing force. Additionally, captive powerplants…
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Pakistan seeks $6.3b China debt rollover | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan on Saturday requested China to rollover its $6.3 billion debt that is maturing in next eight months as part of its overall plan to arrange $34 billion in the current fiscal year to meet its debt and external trade-related obligations. Another proposal was also under consideration to seek a fresh Chinese loan…
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Dar rules out default on debt | The Express Tribune
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[ad_1] WASHINGTON: Finance Minister Ishaq Dar has said that he will seek rescheduling of some $27 billion worth of non-Paris Club debt, but will not pursue haircuts as part of any restructuring. In an interview with Reuters, Dar ruled out the possibility of a default on the country’s debt, an extension of the maturity date…
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Pakistan to seek rescheduling of $27b bilateral debt: Dar
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[ad_1] Finance minister Ishaq Dar. — AFP/File Finance Minister Ishaq Dar said that he will be seeking rescheduling of the non-Paris Club debt worth $27 billion worth, primarily of which is owed to China, but said no to haircuts as part of any restructuring. Dar, who is on an official visit to the US, said…
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‘Pakistan on brink of debt default’ | The Express Tribune
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[ad_1] Renowned economist Steve Hanke has warned that Pakistan was on the brink of a “debt default”. “Its [Pakistan’s] sovereign bonds have lost more than 60% of their value this year. I’m not surprised,” he wrote on his official Twitter handle on Friday. Hanke said that Prime Minister Shehbaz Sharif’s government was failing to save…
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Debt restructuring not on the cards for now: FM Bilawal
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[ad_1] Pakistan’s Foreign Minister Bilawal Bhutto-Zardari speaks following his meeting with US Secretary of State Antony Blinken at the State Department in Washington, DC, September 26, 2022. — AFP/File WASHINGTON: Foreign Minister Bilawal Bhutto-Zardari said that he is not talking about debt restructuring with any lender at the moment, not even China. The minister’s comments…
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Russia defaulted on debt: Moody’s
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[ad_1] PARIS: Moody’s ratings agency has confirmed that Russia defaulted on foreign debt for the first time in a century after bond holders did not receive $100 million in interest payments. “Further defaults on future coupon payments are likely,” Moody’s said in a statement late Monday. [ad_2] Source link
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Pakistan inks $107m debt suspension agreement with France | The Express Tribune
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[ad_1] Pakistan signed an agreement with France for the suspension of loans worth $107 million under the G20 Debt Service Suspension Initiative (DSSI) framework, according to an official statement issued on Monday. The Economic Affairs Division said the amount, initially repayable between July and December 2021, will now be repaid over a period of six…
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Circular debt continues to plague energy chain | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan State Oil (PSO) is facing a liquidity crunch as its receivables swelled to Rs583 billion following default by gas and power companies. Now, its receivables from gas companies have soared to record highs, causing financial trouble to the oil marketing company. As crude oil prices are surging continuously, the profits of energy…
