Pakistan signs agreement with France to suspend $107m loans.

ISLAMABAD -- The Government of Pakistan Monday signed an agreement with the French Republic under the G20 Debt Service Suspension Initiative (DSSI), the Ministry of Economic Affairs stated.

According to a statement released in this regard, the ministry stated that the government signed a DSSI, amounting to the suspension of loans worth $107 million under the G20 DSSI framework.

"This amount, initially repayable between July and December 2021, will now be repaid over a period of six years (including a one-year grace period) in semi-annual instalments," the statement read.

The agreement was signed by Federal Secretary for Economic Affairs Division Mian Asad Hayaud Din and Ambassador of the French Republic to Pakistan Nicolas Galey in Islamabad today.

The government has already signed agreements with the French Republic for a suspension of $261 million.

The ministry noted that due to the support extended by the development partners of Pakistan, the G20 DSSI has provided the fiscal space which was...