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Russia ratifies protocol on Pakistan’s loan debt restructuring

The Pakistani debt to Russia stood at $79.15 mln as of June 1, 2023, including $44.34 mln of overdue debts

MOSCOW, December 12. /TASS/. Russian President Vladimir Putin signed a law ratifying the protocol with a new mechanism of debt repayment by Pakistan under earlier extended loans.

The document was posted on the official website of legal information.

The Pakistani debt to Russia stood at $79.15 mln as of June 1, 2023, including $44.34 mln of overdue debts.

The purpose of the new protocol is to establish the legal framework for its repayment. It determines the new repayment procedure, the repayment schedule, and the interest accrual procedure. One of the articles in the protocol provides for making payments in rubles or the yuan.

The law will come into force in ten days after its promulgation.

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