Reuters report, October 9, 2022 Updated
Finance Minister Ishaq Dar on Sunday said Pakistan will not seek debt restructuring from Paris Club creditor nations, as he seeks to restore market confidence after a credit rating downgrade.
The new rating from Moody’s raised concerns that Pakistan could default on its foreign debt as the country contends with economic turmoil and a balance of payments crisis.
“We have decided not to go to Paris Club,” Dar said while addressing a press conference in Islamabad, adding that in consultation with Prime Minister Shehbaz Sharif it was decided that it wasn’t in the nation’s interest to ask for a restructuring.
“We will fulfil all sovereign [debt] commitment,” he said.
Dismissing market rumours that the government might extend maturities for its bonds, Dar said the country will fulfil all multilateral, international and bond obligations.
“God willing, we will pay the bonds on time,” said Dar. “We are not extending the bond maturity.”
Pakistan’s Eurobond matures in December this year. …..
https://www.dawn.com/news/1714271/govt-will-not-seek-paris-club-debt-restructuring-dar
