ISLAMABAD: Pakistan’s finance ministry said on Tuesday arrangements had been made to repay or roll over this fiscal year’s $3.7 billion debt.
“This should not be any cause of concern as arrangements have been made for the rollover/repayment of this debt,” the ministry said in a statement.
Pakistan’s economy has been in turmoil for months due to an acute balance of payment crisis, with its central bank reserves falling to cover just a month of controlled imports.
There have been concerns the South Asian country could face a default on its external payment obligations, especially if it fails to resume an IMF deal, which it has been trying to negotiate since February.
“This should not be any cause of concern as arrangements have been made for the rollover/repayment of this debt,” the ministry said in a statement.
Pakistan’s economy has been in turmoil for months due to an acute balance of payment crisis, with its central bank reserves falling to cover just a month of controlled imports.
There have been concerns the South Asian country could face a default on its external payment obligations, especially if it fails to resume an IMF deal, which it has been trying to negotiate since February.