Get all your news in one place.
100's of premium titles.
One app.
Start reading
Reuters
Reuters
Business

Flood-hit Pakistan should suspend debt repayments, says UN paper

FILE PHOTO: A man, displaced because of the floods, wades through flood water to fill the canisters, following rains and floods during the monsoon season in Sehwan, Pakistan September 20, 2022. REUTERS/Stringer/File Photo

Pakistan's finance minister said on Friday the South Asian nation was seeking debt relief from bilateral creditors in the wake of devastating flooding but emphasised the government would not seek any relief from commercial banks or Eurobond creditor.

Pakistan's bonds had slumped to just half their face value throughout the day after the Financial Times said a United Nations development agency was urging the cash-strapped country to restructure its debt.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.