Pakistan Crisis China: America shows strictness, then China’s arrogance loosens, will give loan of 2 billion dollars to poor Pakistan! – pakistan financial crisis hindi pakistan and china have reached deal for commercial loan amid us pressure
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This fresh loan can be up to $ 2 billion in the coming time. Pakistan is hopeful that the $700 million commercial loan from China will improve its foreign exchange reserves which have reached the trough till the money starts coming in from the IMF. This development from China has happened at a time when Pakistan has to return the Chinese commercial loan of $300 million. This $ 700 million agreement between Pakistan and China Development Bank has been done this week. According to the report of Pakistani newspaper Express Tribune, Pakistan can get this money this week.
China is going to restructure some loans of Pakistan
Pakistan’s Finance Secretary Hamed Yaqoob Sheikh said, ‘A loan will be rolled over in a day or two.’ With this, Pakistan will get time to repay this loan. He did not tell which country this loan belongs to. The Pakistani newspaper quoted sources as saying that this loan is from China. He also said that another loan repayment schedule may be changed soon. It is being told that this loan is also from the bank of China.
In order to get the loan, Pakistan had returned the commercial loan of $ 1.3 billion in the past due to this greed so that it could get the money again. It has been said in the report that this time Chinese banks are taking more time to reach agreement. Pakistan’s total foreign exchange reserves have just reached $3.2 billion. If Pakistan does not get a new foreign loan, then it can be further reduced. Pakistan now hopes that it will get a loan of $ 1.1 billion from the IMF soon. Earlier, America had warned the world about China’s rising debt and said that Beijing should restructure its debt.
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