NewsDaily
Govt reduces debt rollover risk Pakistan has met the International Monetary Fund (IMF) condition of increasing the maturity profile of its debt through retiring the short-term borrowing and the government also hopes to strike a $1 billion foreign commercial loan deal in April. The development came hot on the heels of some improvement in debt indicators, including the expected slowdown in the pace of debt accumulation to single digits after a long time. The debt office, which now directly reports to the finance secretary, has taken certain initiatives to reduce interest rate and debt refinancing risks. Against the IMF's condition of increasing the current average maturity time of debt from two years and eight months, the Finance Division managed to increase it to three years and three months by December, according to data compiled for the IMF review starting from Monday. The first formal programme review talks between Pakistan and the IMF will begin on March 3 and will continue til...
Comments
Post a Comment