Pakistan set to repay or roll over $3.7 billion debt

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.

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