G20 Summit: Pak reached 36 agreements with 16 countries, debt relief of 0.8 billion dollars

Good news from the economic sector, Pakistan has managed to get a big relief from the G20 countries on the issue of debt relief for May-December 2020. The government has signed 36 agreements with 16 countries. The total debt relief from the agreements is 0.8 billion US dollars.

Pakistan has completed 36 agreements with 16 countries for debt relief from 20 countries from May to December 2020, after which Pakistan has received a debt relief of 0.8 billion dollars.

Pakistan has received 34.7 million dollars from China and 12 million from the United States. Debt relief of was obtained 17 million from France, 86.1 million from Germany, 14.4 million from Sweden, and 8 million in relief from Canada.

In addition, talks are underway with 5 countries for 1 billion relief, including agreements with Russia, Japan, United Kingdom, UAE and Saudi Arabia.

Negotiations with these 5 countries will be completed by December 31, 2020. Pakistan has completed 9 agreements with USA and 8 agreements with China. However, it has completed two agreements with Belgium, Canada, Spain, Netherlands and Germany. One agreement each with Australia, Finland, France, Italy, South Korea, one agreement with Kuwait, Norway, Switzerland and Sweden.

Pakistan expects 800-900 million debt relief in the second phase. The second phase is expected to get debt relief for January 2021.