ISLAMABAD (Reuters) -Pakistan’s finance ministry said on Tuesday arrangements had been made to repay or roll over this fiscal year’s $3.7 billion debt.
“This should not be any cause of concern as arrangements have been made for the rollover/repayment of this debt,” the ministry said in a statement.
Pakistan’s economy has been in turmoil for months due to an acute balance of payment crisis, with its central bank reserves falling to cover just a month of controlled imports.
There have been concerns the South Asian country could face a default on its external payment obligations, especially if it fails to resume an IMF deal, which it has been trying to negotiate since February.
(Reporting by Asif Shahzad;Editing by Bernadette Baum)