WASHINGTON : Pakistan's new finance minister, Ishaq Dar, told Reuters on Friday that he will seek rescheduling of some $27 billion worth of non-Paris Club debt largely owed to China, but will not pursue haircuts as part of any restructuring.
In an interview, Dar ruled out the possibility of a default on Pakistan's debt, an extension of the maturity date on bonds due in December or a renegotiation of Pakistan's current International Monetary Fund program. The veteran finance minister said multilateral development banks and international donors have been"quite flexible" in meeting Pakistan's external financing needs after devastating floods, which caused an estimated $32 billion in damages.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Global finance leaders single out China as barrier to faster debt reliefWASHINGTON : Western countries this week ratcheted up their criticism of China, the world's largest bilateral creditor, as the main obstacle to moving ahead with debt restructuring agreements for the growing number of countries unable to service their debts.U.S. Treasury Secretary Janet Yellen said on Fri
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Britain's finance minister Kwasi Kwarteng to be sacked: British mediaHe is being blamed, along with Prime Minister Liz Truss, for sending the British economy into a tailspin. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
British PM Liz Truss fires finance minister Kwasi Kwarteng: ReportLONDON: British Prime Minister Liz Truss has fired her finance minister Kwasi Kwarteng, the BBC reported on Friday (Oct 14), shortly before she is expected to scrap parts of his economic package in a bid to survive the market and political turmoil gripping the country. Downing Street confirmed that Truss,
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »