Islamabad: On Sunday, Finance Minister Ishaq Dar made it clear that Pakistan would not contact Paris Club creditor nations for the debt restructuring. He said that the decision was made after consulting Prime Minister Shehbaz Sharif. Ishaq claimed that Pakistan would pay the national sovereign debt liabilities within time. Note that last month Shehbaz Sharif appealed to the Paris Club for a debt moratorium amid the economic losses due to floods.
During the press conference, Ishaq Dar announced they would release All Letters of Credit payments over $50,000 by November, pointing out that 4,400 Letters of Credit payments would be resolved.
Regarding the extension in the maturity of country’s international bond, the finance minister said that all bonds would be paid on time and no extension is required. Ishaq also talked about the IMF program, stating that Pakistan will not re-negotiate with them and fulfil its international commitments.
SM: Finance Minister Ishaq has said that Pakistan will not reach out to the Paris Club for debt restructuring. He added that All Letters of Credit payments would be released next month. Ishaq also claimed that Pakistan will not re-negotiate with IMF and fulfil the international commitments.