debt
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Govt inks $197.5m debt suspension agreements | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan on Wednesday signed two debt service suspension agreements amounting to $197.49 million under the G-20 Debt Service Suspension Initiative (DSSI). The government of Pakistan has signed agreements with the Japan International Cooperation Agency (JICA) and the government of Swiss Confederation, said a press release. Around $91.60 million was owed to JICA during…
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Debt mark-up to swallow Rs3.9 trillion | The Express Tribune
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[ad_1] ISLAMABAD: The mark-up on domestic and foreign debt will eat up Rs3.9 trillion out of the total current expenditure of Rs8.69 trillion in next fiscal year 2022-23. Pakistan’s interest payments on foreign and domestic debt will further increase due to the increase in loans. The federal government has projected that it will spend Rs3.95…
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‘Good News:’ China agrees to refinance over $2 billion debt | The Express Tribune
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[ad_1] Finance Minister Miftah Ismail has said that China has agreed to refinance $2.3 billion in debt, providing a major financial relief to the government. “The terms and conditions for refinancing of RMB 15 billion deposit by Chinese banks (about US$ 2.3 billion) have been agreed,” Miftah wrote on his official Twitter handle on Thursday.…
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Pakistan’s debt mounts to Rs53.5tr | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s total debt and liabilities jumped to Rs53.5 trillion – an addition of Rs23.7 trillion under the watch of former prime minister Imran Khan, who failed to meet his promise of bringing down by half the debt pile left behind his arch-rival – the PML-N. The increase in public debt alone, which is…
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Crisis-hit Sri Lanka defaults on foreign debt
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[ad_1] Protestors arrive to take part in a demonstration against the economic crisis at the entrance of the president’s office in Colombo on April 11, 2022. — AFP COLOMBO: Sri Lanka announced a default on its $51 billion foreign debt Tuesday as the island nation grapples with its worst economic crisis in memory and escalating…
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Circular debt to haunt new govt | The Express Tribune
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[ad_1] ISLAMABAD: The worsening circular debt in the energy chain will continue to haunt the new government along with the challenge of dealing with the rising crude oil prices in the global market following the Russia-Ukraine war, officials say. At present, energy companies are facing financial constraints and are struggling to get their outstanding dues…
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Public debt soars by Rs18 trillion | The Express Tribune
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[ad_1] ISLAMABAD: The outgoing government added over Rs18 trillion to the public debt during its three-and-a-half-year stint, which was more than the liabilities accumulated by any government in 75 years, reveals a central bank statement. As a result, the federal government debt jumped to Rs42.8 trillion by February 2022, an addition of Rs18.1 trillion in…
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Policy loans adding to country’s debt | The Express Tribune
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[ad_1] BHURBAN: The policy advisory loans given by international creditors are pushing Pakistan further deep into the debt burden, which the government can avoid by relying on its researchers, says a former official of the International Monetary Fund (IMF). Government-owned Pakistan Institute of Development Economics (PIDE) Vice Chancellor Dr Nadeemul Haque said that the advice…
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Argentina to receive $9.7b under $44b debt deal: IMF | The Express Tribune
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[ad_1] WASHINGTON: The IMF executive board on Friday approved a $44 billion loan for Argentina to help the inflation-wracked country’s economy, with $9.7 billion of the funding available immediately. The Washington-based crisis lender said the financing “aims to provide Argentina with balance of payments and budget support” and also “strengthen debt sustainability, tackle high inflation,…
