Pakistan Formally Requests Early Refinancing of $1.3 Billion From China
Pakistan has formally requested China for early refinancing of $1.3 billion. According to sources, Pakistan made payments totaling $2.2 billion to China last month, which included the repayment of a $1.3 billion Chinese commercial loan.Islamabad now wants the repaid amount refinanced as soon as possible in order to ease pressure on the country’s foreign exchange…
Pakistan has formally requested China for early refinancing of $1.3 billion. According to sources, Pakistan made payments totaling $2.2 billion to China last month, which included the repayment of a $1.3 billion Chinese commercial loan.
Islamabad now wants the repaid amount refinanced as soon as possible in order to ease pressure on the country’s foreign exchange reserves and maintain fiscal space. A formal request has been sent to Beijing in this regard.
