{"id":65074,"date":"2020-05-05T15:24:20","date_gmt":"2020-05-05T10:24:20","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=65074"},"modified":"2020-05-05T15:24:21","modified_gmt":"2020-05-05T10:24:21","slug":"pakistan-submits-formal-request-debt-relief-g-20","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pakistan-submits-formal-request-debt-relief-g-20.html","title":{"rendered":"Pakistan submits formal request for debt relief to G-20"},"content":{"rendered":"\n<p>Islamabad: Pakistan has submitted formal requests for debt relief with the individual members of G-20 nations with a commitment to not contract new non-concessional loans, except those allowed under the International Monetary Fund (IMF) and World Bank (WB) guidelines \u2013 a news source reported.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/covid-19-relief-imf-approves-usd-1-4-bn-aid-g20-wb-sanction-debt-assistance.html\" target=\"_blank\" rel=\"noreferrer noopener\">COVID-19 Relief: IMF approves USD 1.4 bn aid; G20, WB sanction debt assistance<\/a><\/p>\n\n\n\n<p>The requests were submitted under the G-20 COVID-19 Debt Service Suspension Initiative. At the same time, Pakistan has also informed IMF, WB and Paris Club of its intentions to request the debt relief.<\/p>\n\n\n\n<p>Pakistan has to pay USD 20.7 billion to 11 countries in the G-20 group. Nearly USD 1.8 billion out of that (including interest) will mature by the end of this year.<\/p>\n\n\n\n<p>According to details, G-20 nations had paused the debt repayment for a period of eight months between May 2020 and December 2020.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/china-support-pakistan-global-debt-initiative.html\" target=\"_blank\" rel=\"noreferrer noopener\">Chinese FM announces support for PM\u2019s debt relief initiative<\/a><\/p>\n\n\n\n<p>Each individual nation was, however, required to submit formal requests for the purpose. Additionally, the beneficiaries would also agree to not contract new debts during this period, other than in packages under IMF\u2019s Debt Limit Policy or WB\u2019s policy on non-concessional borrowing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Pakistan has submitted formal requests for debt relief with the individual members of G-20 nations with a commitment to not contract new non-concessional loans, except those allowed under the International Monetary Fund (IMF) and World Bank (WB) guidelines \u2013 a news source reported. Read: COVID-19 Relief: IMF approves USD 1.4 bn aid; G20, WB sanction debt assistance The requests were submitted under the G-20 COVID-19 Debt Service Suspension Initiative. At the same time, Pakistan has also informed IMF, WB and Paris Club of its intentions to request the debt relief. Pakistan has to pay USD 20.7 billion to 11 countries in the G-20 group. Nearly USD 1.8 billion out of that (including interest) will mature by the end of this year. According to details, G-20 nations had paused the debt repayment for a period of eight months between May 2020 and December 2020. Read: Chinese FM announces support for PM\u2019s debt relief initiative Each individual nation was, however, required to submit formal requests for the purpose. Additionally, the beneficiaries would also agree to not contract new debts during this period, other than in packages under IMF\u2019s Debt Limit Policy or WB\u2019s policy on non-concessional borrowing.<\/p>\n","protected":false},"author":57,"featured_media":63408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[28141],"persona":[],"class_list":{"0":"post-65074","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-pakistan-submits-formal-request-for-debt-relief-to-g-20"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pakistan submits formal request for debt relief to G-20 - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: Pakistan has submitted formal requests for debt relief with the individual members of G-20 nations with a commitment to not contract new non-concessional loans, except those allowed under the International Monetary Fund (IMF) and World Bank (WB) guidelines \u2013 a news source reported.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/pakistan-submits-formal-request-debt-relief-g-20.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pakistan submits formal request for debt relief to G-20 - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: Pakistan has submitted formal requests for debt relief with the individual members of G-20 nations with a commitment to not contract new non-concessional loans, except those allowed under the International Monetary Fund (IMF) and World Bank (WB) guidelines \u2013 a news source reported.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/pakistan-submits-formal-request-debt-relief-g-20.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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