Pakistan is set to get a debt relief of $900million from G-20 creditors. This relief is expected in the payments from July to December 2021, according to the sources. The Ministry of Economic Affairs has started working on the debt relief recommendations.

The G-20 states are considering deferring the debt payments of the under developed countries that are fighting the COVID-19 pandemic.

It is pertinent to mention that G-20 states on the recommendation of the International Monetary Fund (IMF) and World Bank have already given relief to these countries last year as well.

Countries currently indebted to the IMF and World Bank will benefit from the moratorium on debt payments.

What is G20?

The G-20 is an international forum of the governments and governors of state banks from 19 countries. This forum includes Argentina, Australia, Brazil, Canada, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, UAE, America and European Union (EU).


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