Bloomberg the Company & Products

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

Communications

Industry Products

Media Services

Follow Us

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.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus