Pakistan seeks landmark deal on debt rescheduling

PAKISTAN - Pakistan is seeking an unprecedented debt rescheduling agreement with the Paris Club of sovereign creditors, which would extend help on terms usually reserved for much poorer countries.

If it is approved, Pakistan - which already received a less generous Paris Club deal in January - would see the maturity of its government debt extended for up to 40 years and its interest payments reduced.

This would cut the government's debt servicing costs from more than 60 per cent of total revenues

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