Pakistan possibly to receive debt service relief

July 13, 2020

Pakistan might possibly be able to gain potential benefit due to United Arab Emirates decision for suspension of debt service repayments.  The announcement was made by the State-financed fund's Director Mohammed Saif al-Suwaidi. He said: “At a time when the world is reeling under the effect of the pandemic ... it is imperative for us to support particularly those that need it most, especially the low-income countries.”  The fund provides financial assistance to companies in the United Arab Emirates and to developing countries, which has included Pakistan, Egypt, Sudan and Ethiopia. The request would be entertained only after satisfying the requirements to be eligible for the scheme.

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