The G20 is expected to provide more than $2 billion in debt relief to Pakistan

The G20 is expected to provide more than $2 billion in debt relief to Pakistan.

The Economic Co-ordination Committee (ECC)

The Economic Co-ordination Committee (ECC) has approved a deferral agreement with the Group of 20 (G20) economies.

A meeting of the Economic Coordination Committee was held in Islamabad under the chairmanship of Hafeez Sheikh, Advisor to the Prime Minister on Finance.

According to a statement issued by the ECC, the meeting will approve an agreement to defer loans from the G20 countries, under which Pakistan is likely to receive more than $2 billion in debt relief from the G20 countries.

According to the statement, the Economic Affairs Division will sign a Memorandum of Understanding (MoU) with the Paris Club and the G20 countries.

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On this occasion, Hafeez Sheikh said that Pakistan does not intend to defer commercial loans, Pakistan will abide by bilateral agreements.

Hafeez Sheikh Syed under Pakistan Dos Note Intent to Defer Commercial Loans, Pakistan Will Eternal B Blatral Agreements.

According to the statement, the ECC has also approved funds of Rs 10 billion for repayment of power sector loans.

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