KARACHI (Reuters) – 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.
(Reporting by Ariba Shahid in Karachi; Editing by Emelia Sithole-Matarise)
