The rollover relates to the Paris membership agreement in 04 2020 to support 73 lower income countries during COVID-19, under that the US provided comfort on US$128 million in debt to Pakistan.
The agreement to postpone payments on that debt, plus an additional US$4 million, has been rolled once again.
Pakistan’s amazing finance minister Miftah Ismail said a week ago that Islamabad had been seeking debt relief from bilateral creditors within the wake of water damage, but emphasised the federal government was not seeking any kind of relief from commercial banks or Eurobond lenders.
The nation’s bonds had slumped to just half their own face value, following the Financial Times paper said an Un development agency had been urging the cash-strapped country to restructure its debt.
Ismail said the particular US$1 billion connection would be paid promptly and in full due later this year.