Paris: The Paris Club nations recently suspended debt service payments from Pakistan, Chad, Ethiopia and the Republic of Congo as a part of a G20 debt relief deal — a news source reported. Earlier, G-20 states had agreed to freeze debt payments for 77 of this year’s poorest countries to allow them fiscal space to tackle the coronavirus pandemic.
The country owes nearly USD 20.7 billion to 11 members of the G-20 nations — with USD 1.8 billion worth of loans (including interest payments) expected to mature by December 2020. The G-20 nations had previously announced that the debt payments would be frozen for 76 countries during May and December; provided that the selected nations agreed to certain conditions and submitted a formal request.
