ISLAMABAD: The Government of Pakistan on Wednesday inked a Debt Service Suspension Agreement (DSSA) with the Japan International Cooperation Agency (JICA), amounting to the deferment of payment of loans worth USD 172 million, under the G-20 Debt Service Suspension Initiative (DSSI) framework, APP reported.
This amount, initially repayable between July and December 2021 will now be repaid over a period of six years (including a one-year grace period) in semi-annual installments, said a press release issued by the Ministry of Economic Affairs.
Due to the support extended by the development partners of Pakistan, the G-20 DSSI has provided the fiscal space which was necessary to deal with the urgent health and economic needs of Pakistan.
The total amount of debt that has been suspended under the DSSI framework, covering the period from May 2020 to December 2021, stands at USD 3,686 million.
