KARACHI: China has rolled over Pakistan’s $340 million loan.
According to detail, after the loan rollover, Pakistan’s foreign exchange reserves will reach up to $14 billion.Citing sources, the news agency reported that Pakistan’s existing $210 million loan from the past three years has been rolled over, and also, the $13 million commercial loans that Pakistan repaid two months ago have been refinanced.
The sources further stated that Pakistan has secured $1 billion from Middle Eastern commercial banks and an additional $500 million from multilateral financing sources.
According to media, Pakistan required to maintain a reserve of over $14 billion by the end of the current fiscal year, as per IMF conditions.
