Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Businessweek Archives

Pakistan Debt Moratorium?


International Outlook: GLOBAL WRAPUP

PAKISTAN DEBT MORATORIUM?

-- Who says economic sanctions never work? Pakistan, penalized by the U.S. and its allies because of its nuclear-weapons tests, may have to declare a moratorium on servicing some of its approximately $30 billion of outstanding foreign debt. Finance Minister Sartaj Aziz said on July 8 that the moratorium could start soon unless flows of foreign-currency aid resume.

Prime Minister Nawaz Sharif has been holding urgent talks with International Monetary Fund officials. He wants the IMF to release further tranches of $1.6 billion in credit that was approved last October, before the nuclear tests. Disbursements are blocked by sanctions, which Pakistan argues shouldn't be be applied by the IMF.


The Aging of Abercrombie & Fitch
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus