Pakistan gets $526 million G-20 debt relief

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ISLAMABAD:

Pakistan on Monday signed $526 million worth debt rescheduling agreements with three more members of the richest G-20 club, taking the overall benefit to below $1 billion.

The debt rescheduling agreements were signed with France, Switzerland and China by the Economic Affair Division, according to a handout issued by the Economic Affairs Ministry.

The agreement would result in delaying the repayments of $170 million to France, $9 million to Switzerland and $347 million to China. Pakistan is among the 76 poorest countries, mainly African nations that decided to avail the G-20 debt relief initiative.

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