‘Country moving firmly towards stability’
It was suggested that the two nations should cooperate in the blue economy and promote tourism through a ferry service. Photo: file
The Ministry of Finance on Saturday emphasised that Pakistan’s economy was moving firmly in the right direction to achieve stability and sustainable growth under a rigorous reforms policy.
“… the country is surviving economically and will continue to survive … what Pakistan has done is decisive and courageous; we will continue to walk the road to reforms to stabilise our economy and in the course of time to steer it towards the path of sustainable growth,” a ministry spokesman said in a statement.
Talking about the structure of Pakistan’s debt, the ministry official said that it had less than 10% share in commercial bonds/ Sukuk, with the next maturity due in April 2024.
“The rest of the debt is owed to the multilateral and bilateral creditors. Both these classes of creditors are engaged with Pakistan and none has assessed that Pakistan should default.”
He also pointed to the deep-rooted reforms undertaken over the last nine months.
Published in The Express Tribune, May 28th, 2023.
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