China Rolls Over $2 Billion Loan To Pakistan

Pakistan is working to strengthen its finances after securing a $7 billion International Monetary Fund bailout in September 2024.

Karachi:

China rolled over a $2 billion loan to Pakistan, the adviser to the finance minister of Pakistan, Khurram Schehzad, told Reuters in a text message on Saturday.

Pakistan is working to strengthen its finances after securing a $7 billion International Monetary Fund bailout in September 2024. The first installment of the loan is currently under review, and if successful, Pakistan will receive an additional $1 billion.

Securing external financing has previously been a key condition for the IMF to approve bail-out deals for the cash-strapped nation.

The South Asian nation needs to repay over $22 billion in external debt in fiscal year 2025, including nearly $13 billion in bilateral deposits, Fitch said.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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