The United States (US) on Friday unveiled a roll-over agreement to suspend payments of USD 132 million of Pakistan’s debt in the wake of the economic crisis caused by the floods.
“Ambassador Blome today signed the second U.S.-Pakistan bilateral agreement under the G 20 Debt Service Suspension Initiative, providing $132 million in U.S. debt relief to Pakistan. Our priority is to redirect critical resources in Pakistan,” said the US Embassy Islamabad in a statement.
Record monsoon rains and melting glaciers triggered the disaster. The United Nations (UN) and Pakistan have linked the extreme weather to climate change. Approximately 600,000 people have fled their homes.
As many as 33 million people of the 220 million South Asian nation have been affected in some way by the floods that swept away houses, roads, railways and bridges and submerged around 4 million acres of farmland.
