Pakistan’s central bank announced that it has received a loan of $1 bn from China, the country’s foreign exchange reserves is back to $4 bn.
Islamabad: Pakistan’s central bank announced on Saturday that it has received a loan of $1 billion from China, bringing the country’s foreign exchange reserves back to over $4 billion, a media report said.
The Pakistan government also expects to refinance another commercial loan of $300 million from China in the near future, The Express Tribune reported.
Finance Minister Ishaq Dar had announced that Pakistan would receive a $1 billion Chinese commercial loan within 72 hours. Islamabad had repaid this loan in advance after reaching a new agreement with Beijing.
