Reuters: China provides 3.4 billion USD in loans to Pakistan
Reuters reported on June 30 that China has provided more than 3.4 billion USD in accumulated loans to Pakistan, including 2.1 billion USD in funds stored in the State Bank of Pakistan for three years which have been renewed, and 1.3 billion USD in commercial loans which have been refinanced. This move aims to help Pakistan meet the International Monetary Fund (IMF) target of over 14 billion USD in foreign exchange reserves; anonymous Pakistani officials revealed that the country has also received 1 billion USD from Middle Eastern commercial banks and 500 million USD in multilateral financing. Pakistani officials said "this has brought our reserves up to the IMF requirement," and emphasized that under the IMF's 7 billion USD rescue plan, Pakistan's economy has stabilized.
Original article: https://www.toutiao.com/article/1836315800238089/
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