‘There is no chance of default,’ Pakistan says it will pay external debt ‘on time’ | World news
Pakistan’s Finance Minister Ishaq Dar said the government will fulfill its external debt obligations with a sukuk bond repayment due in the first week of December.
“There is no chance of default. The reform will be done in time,” he said in a televised message on Saturday, adding that plans for debt repayment for next year have been made “in principle.”
Dar estimates the country’s current account deficit will be $6 billion by the end of June 2023, half of the previous forecast. He said the deficit is expected to decrease by more than $400 million in October.
The Finance Minister also denied the possibility of fuel shortages in the country amid political uncertainty caused by former Prime Minister Imran Khan’s months-long campaign for snap elections to be held.
Khan announced on Saturday that he will hold a rally in Islamabad on November 26 as the final leg of the protest campaign.