Pakistan, US Sign Debt Rescheduling Agreement

Pakistan and the United States signed Monday an agreement to reschedule US$379 million (including late interest) in government-to-government debt.

While inking the agreement, US Ambassador in Pakistan, Wendy Chamberlin, said that the conclusion of the debt rescheduling agreement between the United States and Pakistan is a strong and public U.S. endorsement of the Pakistani government's management of its economic recovery.

On the occasion, Pakistani Finance Minister Shaukat Aziz termed the agreement as endorsement of economic and structural reforms of the Pakistani government by the U.S. administration.

The agreement was signed on the Pakistani side by Nawid Ahsan, Secretary of Economic Affairs Division of the Ministry of Finance.

(People’s Daily 09/25/2001)