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Pakistan will not default, Dar stresses

Pakistan will not default, Dar stresses

Finance Minister Ishaq Dar on Saturday said Pakistan will not default and would meet its upcoming $1 billion dollar bond payments.

The finance minister was addressing a press conference via video link from Islamabad. He said that there were rumours that the country would not be able to pay $1bn on December 5 against the maturity of five-year sukuk, or Islamic bonds.

“We have never defaulted before. We will not even be close to default. Let me clear this categorically that the bond will be paid and even the upcoming payments,” he said.

More to follow.

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