Paris: The French finance ministry on Wednesday stated that the Paris Club had decided to extend debt relief facilities to Pakistan, according to a news source. The Paris Club is a group of state creditors coordinated by the French finance ministry, which made this decision under an agreement with the G20.
The G20 and Paris Club previously agreed to freeze the debts of 77 of the poorest countries in the world. To this end, both parties clarified the terms of the agreements they would make with the governments concerned. They made this decision in light of the COVID-19 crisis, so that these countries could have more cash to fight the pandemic.
This list of countries, which are expected to sign up for the debt relief package, includes Pakistan, Cameroon, Ethiopia, Mauritania, the Democratic Republic of the Congo, and the Republic of the Congo. So far, the Paris Club has already signed agreements in this regard with Mali, Nepal, and the Caribbean islands of Dominica and Grenada.
