Will seek to reschedule $27 billion in bilateral debt: Dar
Finance Minister Ishaq Dar stated on Friday that he will seek rescheduling of approximately $27 billion in non-Paris Club debt, the majority of which is owing to China, but will not seek haircuts as part of any restructuring. During an interview Dar ruled out the idea of Pakistan’s debt default, an extension of the maturity date on bonds due in December, or a revision of Pakistan’s present IMF programme.
The finance minister stated that multilateral development banks and international donors had been “very flexible” in finding solutions to meet Pakistan’s estimated $32 billion in external financing needs following the disastrous floods.
Some of this may result from reallocating cash from previously approved, slower-paying development projects.
I am Muhammad Sheharyar Khan, a Pakistan national. I recently completed my FSc in Pre-Engineering and am currently pursuing a BS in International Relations at the University of Management and Technology in Lahore. I passed the fourth semester with the Dean’s Award. I enjoy tinkering with language and luring an audience in with the sparks of my speech, which offer a glimpse of information at every level, from local to global.
I am currently enrolled in a programme where we learn to interact with people both locally and internationally and a touch of public speaking where we are pave us for journalism.
I have written an Urdu poetic book and some English stories stories International published books.