China Pakistan News: Pakistan is waiting for a two billion dollar loan from China, when will the help come – pakistan waiting for decision by china on rollover of 2 billion dollar loan
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Only China helped
The country’s foreign exchange reserves are left only for four weeks of imports. While continuous talks are going on with the IMF to reduce the bailout package. The finance ministry official said on condition of anonymity, “The rollover work is in progress and the formal document is under discussion. He told that it will be announced by making a formal announcement. Apart from this, the official flatly refused to give any further information. The loan given by China to Pakistan has matured on 23 March. Pakistan is making constant efforts to save itself from default. The only help for him has come only from China.
Talks continue with the IMF
China has already deposited a loan of $1.8 billion to the State Bank of Pakistan (SBP). IMF funding is very important to open the way for the rest of the financial assistance. Pakistan has been in talks with the IMF since November 2022 to restart a $1.1 billion loan program. This is part of the $6.5 billion bailout package in 2019 for which the organization agreed. Meanwhile, the government of Pakistan spoke of ‘progress’ in the aid received from Saudi Arabia and the United Arab Emirates (UAE).
UAE and Saudi Arabia help!
UAE Ambassador to Islamabad Hamad Obaid Ibrahim Salim Al-Zaabi has met the country’s Finance Minister Ishaq Dar. He noted the UAE’s interest in expanding and furthering investments in various sectors. Testifying before the Senate Standing Committee and later speaking to reporters, Dr. Pasha said that there has been some progress from Saudi Arabia and the UAE on external funding. Some technical talks are going on and that too will be completed soon. He said that there are indications that something good is about to happen. He claimed that things are happening in a positive direction with the IMF as well. Pakistan’s Staff Level Agreement (SLA) with the IMF is stuck due to lack of financial assurance.
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