Pakistan China Debt: Pakistan’s strange breakup… $ 500 million received from China, the poor country returned the loan and asked for the same money! – pakistan receives 500 million dollars from china amid economic crisis ishaq dar confirms
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He wrote in his tweet, ‘The formalities have been completed. Chinese bank ICBC has approved a rollover of $1.3 billion, which has been paid to ICBC by Pakistan in recent months. He said that this money will come in three installments. State Bank of Pakistan has received the first installment of $500 million. This will increase our foreign exchange reserves. As of February 24, Pakistan’s foreign exchange reserves stood at $3.8 billion, which was enough for less than a month from an import perspective, Geo News reported.
First returned the loan, now China is returning it
A few hours before this announcement, Ishaq Dar said in a press conference that all our formalities with ICBC have been completed. We’ve given them back $1.3 billion over the last few months… They’re giving it back and have renovated the facility. It is possible that in the next few days – by Monday or Tuesday – 500 million dollars will come and within 10 days another 500 million dollars will come.
Pakistan Bankrupt: Bankrupt Pakistan, why good news for India
Will Pakistan go bankrupt?
He was asked whether Pakistan is on the verge of bankruptcy? Ishaq Dar said, ‘We have never defaulted and will not be even now. Yes, we were in a precarious situation and are currently going through it. He said the present government had taken a “principled decision” last year around the time of the no-confidence motion against Imran Khan whether to save the country or politics. Dar said that at that time the country’s interests were given priority over political interests, it was the ‘right decision’.
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