ISLAMABAD - The Canadian government has written off a 392-million-dollar loan owed by Pakistan after years of negotiations with the Paris Club, a media report said on Friday.| That's good for what, three F-16 fighters? |
Pakistan initiated a dialogue with the Paris Club, of which Canada is a member, a few years ago for rescheduling debt and a debt swap with the aim of reducting PakistanÂ’s external-debt burden. Over the past six months, Pakistan has succeeded in reducing its external debt burden by about 652 million dollars.
The Italian government was also expected to write off 200 million dollars in Pakistani debt against spending by Pakistan on Afghan refugees and reconstruction of areas ravaged by the OctoberÂ’s deadly earthquake there. The newspaper also quoted officials in the finance ministry as saying that negotiations have been completed with Germany to get waiver of a 362-million-dollar loan against expenditures for quake reconstruction.
| More money for Perv to buy guns. Yeee-hah. |