Pakistan's Finance Minister Ishaq Dar says he will seek rescheduling of some $27 billion worth of non-Paris Club debt largely owed to China, but will not pursue haircuts
"Rescheduling is fine, but we are not seeking a haircut. That's not fair," says Pakistan's Ishaq Dar.
The veteran finance minister said multilateral development banks and international donors have been "quite flexible" with ways to meet Pakistan's external financing needs estimated at about $32 billion after devastating floods. He declined to comment when asked whether he thought it would be difficult to persuade China, creditor for about $23 billion of the debt, to participate.
Dar, who served as Pakistan's finance minister three previous times -- most recently from 2013 to 2017 -- is known as a staunch defender of the rupee.
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