Finance Minister rules out Pakistan defaulting on its debt

Federal Finance Minister Ishaq Dar has ruleout d the possibility of Pakistan defaulting on its debt.
In an interview with international media, Federal Finance Minister Ishaq Dar, who is in the US for annual meetings of the International Monetary Fund and the World Bank said that Pakistan will try to get the bilateral debt worth around $27 billion rescheduled. This is the money that the country owes to non-Paris Club countries of this, Pakistan owes $23 billion to China.
Ishaq Dar said that the government will seek restructuring on equal terms for all bilateral creditors.
The minister said that since the devastating floods, the international financial institutions have been “quite flexible” to help Pakistan with its external financing needs which have jumped to $32 billion
Dar revealed that during his meeting with the IMF officials, they discussed all the options including exploring the IMF’s new Resilience and Sustainability Trust for middle-income countries.
Referring to monster floods that Pakistan has ravaged Pakistan and destroyed crops standing on millions of acres of land, the minister said that there’s a possibility that Pakistan might approach and access the IMF’s new emergency “food shock” borrowing window.