04.01.2012 - Pakistanís fiscal breather: Islamic Development Bank rolls over $576 mln debt
The Islamic Development Bank has agreed to roll over $576 million of Pakistanís debt for two years as Islamabad struggles with its budget deficit following the halt of aid inflows from the United States and other international lenders. The amount was due in December and will now be paid back over the next two years, said sources in the finance ministry. Pakistan had obtained the loan to finance imports. In December, the original $654 million loan had reached maturity, out of which $576 million has been rolled over...............................................Full Article: Source
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