China approves rollover of $1.3 billion loan to Pakistan
2 years ago

China approves rollover of $1.3 billion loan to Pakistan

Op India  

As Pakistan was on the verge of going bankrupt under massive international debt, China has come to its rescue, with more debt. As Pakistan has not been able to secure the latest instalment of a bailout package from the IMF due to differences, the Industrial and Commercial Bank of China approved an extension of a $1.3 billion loan for the country. The news was confirmed by the Pakistan Finance Minister who tweeted, “Formalities completed and Chinese Bank, ICBC approved rollover of US $1.3 billion facility which has been repaid by Pakistan to ICBC in recent months. It will increase forex reserves!” Formalities completed & Chinese Bank, ICBC approved rollover of US$1.3 billion facility which has been repaid by Pakistan to ICBC in recent months. It was reported earlier that Pakistan only has around $4.1 billion in foreign exchange after it repaid $328 million guaranteed debt to China which the country had taken to set up power plants.

China Pakistan Debt Loan Billion Icbc Facility Imf Islamabad Recent Months Dar  china  billion  debt  approves  pakistan  loan  13  million  icbc  country  rollover  facility  imf

History of this topic

Pakistan Urges China To Reschedule Debt Worth $3.4 Billion Again: Report
1 month, 2 weeks ago

Pakistan Urges China To Reschedule Debt Worth $3.4 Billion Again: Report

ABP News  

Pakistan has reportedly requested China to reschedule the $3.4 billion debt for two years, The Express Tribune reported on Saturday. The Pakistani media agency citing official sources said that the officials requested the Export-Import Bank of China to reschedule the arrangement of its loans from October 2024 to September 2027. According to the IMF norms, Pakistan is required to find …

Zardari in China but it's the same old story in Pakistan
Trending News
1 month, 2 weeks ago

Zardari in China but it's the same old story in Pakistan

Firstpost  

Zardari will fly down to China at a time when his country is grappling with economic and security issues, which indirectly poses a problem for Beijing which has ongoing projects there Pakistan’s President Asif Ali Zardari on Tuesday will begin his official five-day visit to China at the invitation of President Xi Jinping. This is the second time a high-ranking …

Pakistan cannot risk exiting IMF programme with USD 100 billion external financing needs: Minister
1 month, 3 weeks ago

Pakistan cannot risk exiting IMF programme with USD 100 billion external financing needs: Minister

Live Mint  

Islamabad, Jan 30 A minister said Pakistan cannot afford the risk of exiting the International Monetary Fund programme with USD 100 billion in external financing requirements in the short to medium term. "We have a narrow path from short to medium term due to USD 100 billion gross external financing needs and cannot be adventurous," Minister of State for Finance …

UAE rolls over $2 billion loan to Pakistan amid IMF bailout efforts
2 months ago

UAE rolls over $2 billion loan to Pakistan amid IMF bailout efforts

Firstpost  

Pakistan’s central bank said on Thursday that the United Arab Emirates has confirmed rollover of its two deposits of $1 billion each placed with state bank of Pakistan for another year, according to a report Pakistan’s central bank said on Thursday that the United Arab Emirates has confirmed rollover of its two deposits of $1 billion each placed with state …

What are Panda bonds that Pakistan is banking on to raise money?
2 months, 1 week ago

What are Panda bonds that Pakistan is banking on to raise money?

Firstpost  

Struggling to keep its economy running, Pakistan now is planning to issue yuan-denominated Panda bonds soon. Pakistan has said it has been working to issue Chinese currency yuan-denominated Panda bonds this year to shore up its finances. Pakistan plans to raise $250mn from Chinese investors Through the Panda bonds, Pakistan aims to raise $200 to $250 million from Chinese investors …

Pakistan Seeks Extended Debt Maturities to Ease Electricity Price Hikes
5 months ago

Pakistan Seeks Extended Debt Maturities to Ease Electricity Price Hikes

Live Mint  

Pakistan's finance minister expresses optimism over China's response to its request to lengthen maturities for debt involved in the Belt and Road Initiative. The country is seeking breathing room to lower electricity prices, which have been significantly higher in recent years. Pakistan has seen a period of stability after securing a new $7 billion loan program from the IMF, and …

Foreign holdings of Chinese bonds see net increase of $20b in July
7 months ago

Foreign holdings of Chinese bonds see net increase of $20b in July

China Daily  

BEIJING - The net increase in foreign holdings of domestic bonds stood at $20 billion in July, soaring 1.4 times from the previous month, data from China's State Administration of Foreign Exchange showed Thursday. Foreign investors were still highly motivated to allocate RMB assets as cross-border capital flow improved in July, it said. China's foreign trade also continued to grow …

Foreign holdings of Chinese bonds see net increase of $20b in July
7 months, 1 week ago

Foreign holdings of Chinese bonds see net increase of $20b in July

China Daily  

BEIJING - The net increase in foreign holdings of domestic bonds stood at $20 billion in July, soaring 1.4 times from the previous month, data from China's State Administration of Foreign Exchange showed Thursday. Foreign investors were still highly motivated to allocate RMB assets as cross-border capital flow improved in July, it said. China's foreign trade also continued to grow …

Pakistan Wants China to ‘Reprofile’ Debt to Help Support Reforms
7 months, 3 weeks ago

Pakistan Wants China to ‘Reprofile’ Debt to Help Support Reforms

Live Mint  

Pakistan has sought Chinese help to “reprofile” its debts with rollovers and maturity extensions to create more breathing room for economic reforms it’s seeking to enact under a new International Monetary Fund’s $7 billion loan program. Discussed with central bank officials during a recent visit to Beijing was a proposal to extend the maturity of debt for nine power plants …

IMF doubts cash-strapped Pakistan's repayment capacity as support team arrives in Islamabad
10 months, 1 week ago

IMF doubts cash-strapped Pakistan's repayment capacity as support team arrives in Islamabad

Hindustan Times  

Islamabad, The IMF has said that Pakistan faces major debt-repayment challenges and expressed serious doubts over the cash-strapped country's capacity to repay the global lender, according to a media report on Saturday. IMF doubts cash-strapped Pakistan's repayment capacity as support team arrives in Islamabad The Washington-based bank's assessment of Pakistan's economy came as an IMF support team reached the country …

IMF approves immediate disbursal of USD 1.1 billion loan tranche to Pakistan
10 months, 3 weeks ago

IMF approves immediate disbursal of USD 1.1 billion loan tranche to Pakistan

Deccan Chronicle  

Washington/Islamabad: The IMF has approved an immediate disbursal of the final tranche of USD 1.1 billion to Pakistan as part of a bailout package, emphasising that the cash-strapped country needs to take tough measures to bring its economy back on track. The International Monetary Fund Executive Board's decision on Monday came after the global lender completed the second and final …

ECONOMIC PERSPECTIVES | IMF’s urgent loan to Pakistan driven by the West’s paranoia over China
1 year, 7 months ago

ECONOMIC PERSPECTIVES | IMF’s urgent loan to Pakistan driven by the West’s paranoia over China

The Hindu  

Published : Aug 10, 2023 11:00 IST - 6 MINS READ On July 14, the shaky government of a debt-stressed Pakistan won itself a surprising reprieve from the IMF. Pakistan’s government has also succeeded in getting fund flows from “friendly” nations—$3.7 billion from bilateral partners such as Saudi Arabia and the UAE—and a roll-over of around $4 billion in loan …

Pakistan granted rollover on $2.4bn Chinese loan: minister
1 year, 7 months ago

Pakistan granted rollover on $2.4bn Chinese loan: minister

The Hindu  

China has granted Pakistan a two-year rollover on a $2.4 billion loan, Islamabad said Thursday, giving the debt-saddled nation breathing space in its balance-of-payments crisis. Soaring inflation, shrinking dollar reserves and crippling foreign debt led Pakistan to the brink of default before a pivotal $3 billion IMF bailout was granted earlier this month. Finance Minister Ishaq Dar said China's EXIM …

China Rolls Over $2.4 Billion Loan to Cash-Strapped Pakistan for Two Years
1 year, 7 months ago

China Rolls Over $2.4 Billion Loan to Cash-Strapped Pakistan for Two Years

News 18  

China has rolled over a USD 2.4 billion loan to its all-weather ally Pakistan for two years to help the cash-strapped country shore up its foreign exchange reserves, Finance Minister Ishaq Dar said on Thursday. “Chinese EXIM Bank has rolled over for 2 years principal amounts of following loans totalling US$ 2.4 billion which are due in next 2 fiscal …

Pakistan’s finance minister says China rolls over $2.4 billion loan for Islamabad for 2 years
1 year, 7 months ago

Pakistan’s finance minister says China rolls over $2.4 billion loan for Islamabad for 2 years

Associated Press  

ISLAMABAD — Pakistan’s finance minister on Thursday said China has rolled over a $2.4 billion loan for the cash-strapped Islamic nation for two years, a move aimed at helping the country overcome one of its worst economic crises. The latest extension in loan maturities by Beijing was a boost to Pakistan’s fragile foreign exchange reserves, which are still only enough …

Pakistan: Army chief calls for people to 'throw out the begging bowl' to reduce dependence on foreign loans
1 year, 7 months ago

Pakistan: Army chief calls for people to 'throw out the begging bowl' to reduce dependence on foreign loans

India TV News  

Stressing that Pakistan needs to end dependence on foreign loans for sustaining its dilapidated economy, the country's Chief of Army Staff General Syed Asim Munir remarked that "all Pakistanis must throw out the begging bowl", reported Geo News. Pakistan Prime Minister Shehbaz Sharif announced that the cash-strapped country will receive $600 million from Beijing amid a swelling debt and low …

Pakistan has to repay $2.44 billion of external debt in July 2023
1 year, 8 months ago

Pakistan has to repay $2.44 billion of external debt in July 2023

Live Mint  

Pakistan's crippling economy is sitting on a large pile of debt taken from international organisations and countries like China. The debt also includes $2.44 billion for the current month of July 2023 owed to China, reports ANI quoting the NEws International. This means that Pakistan and China are currently working on the rollover of around USD 3 billion bilateral debt …

China agrees to reschedule $2 billion debt of Pakistan
1 year, 8 months ago

China agrees to reschedule $2 billion debt of Pakistan

The Hindu  

China has agreed to reschedule more than $2 billion debt of Pakistan for a period of two years, providing a major relief to the cash-starved country, which is in the process of rebuilding foreign exchange reserves through fresh loans. The $6.5 billion is a publicly guaranteed debt, and more than $2 billion repayments were maturing in two years that China …

Pakistan’s forex reserves double to $8.73 billion
1 year, 8 months ago

Pakistan’s forex reserves double to $8.73 billion

Live Mint  

Pakistan's foreign exchange reserves have surged to a nine-month high following a fresh financial bailout from the International Monetary Fund. The country's reserves nearly doubled to $8.73 billion as of July 14, with inflows coming from the IMF and friendly nations like Saudi Arabia and the UAE. The financial assistance, totaling around $4.2 billion received last week, comes as Pakistan …

Pakistan gets another $600 million loan from China: PM Shehbaz
1 year, 8 months ago

Pakistan gets another $600 million loan from China: PM Shehbaz

The Hindu  

Cash-strapped Pakistan has received a rollover of an additional $600 million loan from its all-weather ally China to help shore up the country's foreign exchange reserves on the back of an IMF deal, Prime Minister Shehbaz Sharif said on Tuesday. It is in addition to the over $5 billion in loans that Beijing has rolled over for Pakistan in the …

Cash-Strapped Pakistan Secures USD 3 Billion Loan from IMF
1 year, 8 months ago

Cash-Strapped Pakistan Secures USD 3 Billion Loan from IMF

News 18  

The International Monetary Fund on Wednesday announced that it has approved a USD 3 billion loan agreement for Pakistan, unlocking crucial funding for the cash-strapped economy. In a statement, the IMF said its executive board gave the green light to the nine-month standby arrangement “to support the authorities’ economic stabilization program.” This follows a staff-level agreement between the fund and …

Relief to cash-strapped Pakistan as it gets final IMF approval for USD 3 billion loan
1 year, 8 months ago

Relief to cash-strapped Pakistan as it gets final IMF approval for USD 3 billion loan

India TV News  

In a relief to cash-strapped Pakistan, the International Monetary Fund on Wednesday gave a final nod to a USD 3 billion “stand-by arrangement” for the country to support the government's efforts to stabilise the ailing economy. "The Executive Board of the International Monetary Fund approved a 9-month Stand-By Arrangement for Pakistan for an amount of SDR2,250 million to support the …

Pakistan assures IMF of $8 billion external payments: Report
1 year, 8 months ago

Pakistan assures IMF of $8 billion external payments: Report

India Today  

Cash-strapped Pakistan has provided the IMF with a financing plan for external payments, in which it has informed the global lender that it will arrange USD 8 billion for the purpose instead of USD 6 billion, according to a media report on Saturday. The Executive Board of the IMF will meet on July 12 to review the SBA for Pakistan …

Bilawal Bhutto Denies Pakistan Is in China's Debt Trap, Says Beijing Provides 'Soft Loans'
1 year, 8 months ago

Bilawal Bhutto Denies Pakistan Is in China's Debt Trap, Says Beijing Provides 'Soft Loans'

News 18  

A day after IMF provided a long-awaited bail-out to cash-strapped Pakistan, Foreign Minister Bilawal Bhutto Zardari dismissed claims that his country is falling into China’s debt trap. In the Nikkei interview, Bhutto Zardari emphasized that most of China’s assistance to Pakistan comes in the form of investments or soft loans, refuting concerns of immediate default on debt despite the ongoing …

Pakistan receives $1 billion from China
1 year, 9 months ago

Pakistan receives $1 billion from China

The Hindu  

Cash-strapped Pakistan has received $1 billion from its close ally China to support its critically low foreign reserves amidst the uncertainty to revive a stalled International Monetary Fund loan. Earlier, Finance Minister Ishaq Dar said Pakistan had paid back $1 billion to China last Monday against a due amount of $1.3 billion and it was hoped that the amount would …

Pakistan PM Shehbaz Sharif says China will save the country from bankruptcy
1 year, 9 months ago

Pakistan PM Shehbaz Sharif says China will save the country from bankruptcy

Op India  

On Friday, May 26, Shehbaz Sharif, Pakistan’s prime minister, stated that an agreement with the International Monetary Fund has not been reached, but that China’s backing will be critical in keeping the country from default. PM Sharif stated in his address to industrialists and businesses in Karachi that Pakistan has ‘successfully fulfilled all of the rigorous conditions imposed by the …

US think tank: Pakistan needs to pay $77.5 billion in external debt
1 year, 11 months ago

US think tank: Pakistan needs to pay $77.5 billion in external debt

Op India  

Pakistan must pay back a staggering $77.5 billion in external debt between April 2023 and June 2026, all the while grappling with a severe economic collapse. “Amid skyrocketing inflation, political conflict between Prime Minister Shehbaz Sharif’s government and former Prime Minister Imran Khan, and surging terrorism, the country is facing the risk of a default due to its massive external …

China rolls over $2 billion loan to Pakistan as it struggles with external liquidity
1 year, 11 months ago

China rolls over $2 billion loan to Pakistan as it struggles with external liquidity

The Hindu  

Pakistani Finance Minister Ishaq Dar said on March 31 that China had rolled over a $2 billion loan that matured last week, providing relief during the South Asian nation's acute balance of payment crisis. Longtime ally Beijing has provided the only help Islamabad has got so far, with refinancing of $1.8 billion credited last month to Pakistan's central bank. In …

ICBC to boost international services
1 year, 11 months ago

ICBC to boost international services

China Daily  

Despite facing geopolitical risks, rising unilateralism and protectionism, and strengthened requirements for compliance management this year, the Industrial and Commercial Bank of China will continue to promote international operations, a senior executive of the bank said on Friday. As China accelerates its opening-up policy, high-quality internationalized financial services will be needed for increasing cross-border economic and trade investment, expanding global …

Pakistan receives $2 billion rollover deposits from China to get IMF bailout, says report
1 year, 11 months ago

Pakistan receives $2 billion rollover deposits from China to get IMF bailout, says report

The Hindu  

Cash-strapped Pakistan has received a rollover of $2 billion in deposits for a period of one year from its all-weather ally China to help Islamabad get a much-required bailout from the IMF to stabilise its economy, a media report said on March 24, 2023. The rollover, which basically is not a loan but a financial deposit to be kept at …

IMF says Pakistan must complete 'few remaining points' to get $6.5 bn loan
2 years ago

IMF says Pakistan must complete 'few remaining points' to get $6.5 bn loan

Hindustan Times  

The International Monetary Fund said Pakistan has a few more tasks before it can unlock a $6.5 billion loan to avoid a default, putting pressure on the government to secure assurances from countries that have promised financing support. “A staff-level agreement will follow once the few remaining points are closed,” said Esther Perez Ruiz, the IMF’s resident representative for Pakistan. …

If IMF delays loan Pak will be in deeper troubles, US Bank warns
2 years ago

If IMF delays loan Pak will be in deeper troubles, US Bank warns

Live Mint  

If crisis-hit Pakistan does not secure funding from the International Monetary Fund, the country will need to stop its debt repayments, a US bank warned as Islamabad is close to inking a deal with the IMF to unlock the $1.1 billion loan from the $6.5 billion bail out package. The Bank of America said China can rescue crisis-hit Pakistan because …

IMF deal in jeopardy, only China can bailout Pakistan: Report
2 years ago

IMF deal in jeopardy, only China can bailout Pakistan: Report

Live Mint  

A US bank said that China can rescue crisis-hit Pakistan because of its close ties with the country, while the International Monetary Fund and Pakistan are still in tough negotiations on financial aid for economic recovery, according to a report by Dawn news. “Whether and when Pakistan can receive the next installment from the IMF is still up in the …

Pak’s economy in ’shambles’; China is lending a hand
2 years ago

Pak’s economy in ’shambles’; China is lending a hand

Live Mint  

Pakistan's external foreign debt amounts to $126 billion, out of which $30 billion is held by China, according to the International Monetary Fund data. This amount is three times larger than Pakistan's IMF debt of $7.8 billion and exceeds its borrowings from the World Bank and Asian Development Bank altogether. According to a 2019 study by the Jang Group and …

‘Make sure balance of payment is fully financed’: IMF to Pakistan
2 years ago

‘Make sure balance of payment is fully financed’: IMF to Pakistan

Live Mint  

The International Monetary Fund asked Pakistan to give an assurance that its balance of payments deficit is fully financed for the fiscal year ending in June to unlock the next tranche of IMF funding, the fund's resident representative said on Monday. Last week, Pakistan Finance Minister Ishaq Dar said that the external financing assurance was not one of the IMF's …

Pakistan economic crisis: Islamabad receives $700 mn from China bank, eyes $1,300 mn more
2 years ago

Pakistan economic crisis: Islamabad receives $700 mn from China bank, eyes $1,300 mn more

India TV News  

Pakistan economic crisis: Pakistan has received $700 million from the China Development Bank to bolster the country's foreign exchange reserves, which have been under strain due to external debt. The deposit will provide much-needed relief to Pakistan, which has foreign exchange reserves of $3.25 billion as of February 17, barely enough to cover less than three weeks' worth of imports. …

Pakistan receives $700 mn from China bank, eyes another $1,300 mn
2 years ago

Pakistan receives $700 mn from China bank, eyes another $1,300 mn

Live Mint  

Pakistan has received a deposit of $700 million from the China Development Bank, which will provide a much-needed boost to the country's foreign exchange reserves. Funds $700 million received today by State Bank of Pakistan from China Development Bank," Finance Minister Ishaq Dar announced on Twitter Earlier this week, Dar announced that the board of the China Development Bank had …

Explained: How Pakistan is following Sri Lanka's footsteps in China's debt trap
2 years ago

Explained: How Pakistan is following Sri Lanka's footsteps in China's debt trap

Firstpost  

China, which is Pakistan’s single-largest creditor — owning 30 per cent of its total external debt — is set to grant a $700 million loan through its China Development Bank. The loan, which Beijing will grant through its China Development Bank is set to boost Pakistan’s forex reserves by 20 per cent. Let’s take a closer look at how this …

China, Iran, Uzbekistan come to Pakistan’s rescue from economic crisis
2 years, 1 month ago

China, Iran, Uzbekistan come to Pakistan’s rescue from economic crisis

Live Mint  

Pakistan is struggling with its worst economic crisis in decades with its foreign exchange reserves, at their lowest in 10 years. China and Iran have come forward to help the crisis-hit Pakistan to come out of the financial collapse, while the International Monetary Fund is delaying unlocking the next tranche of a $6.5 billion loan. China lends $700 loan to …

China approves $700 million loan to Pakistan: Finance Minister Ishaq Dar
2 years, 1 month ago

China approves $700 million loan to Pakistan: Finance Minister Ishaq Dar

The Hindu  

Pakistan's all-weather ally China has approved a loan of $700 million to the cash-strapped country, Finance Minister Ishaq Dar announced on Wednesday. The announcement by Dar on the loan by the Board of China Development Bank came a day after Pakistan’s National Assembly unanimously passed a money bill aimed at raising tax revenues to fulfil the demands set by the …

Pakistan: China approves USD 700 million loan to cash-strapped country
2 years, 1 month ago

Pakistan: China approves USD 700 million loan to cash-strapped country

India TV News  

Pakistan: The all-weather ally of China has approved a major loan of a whopping price to the cash-strapped country 'Pakistan'. The Finance Minister of Pakistan, Ishaq Dar on Wednesday announced that China has approved a loan of USD 700 million. The money bill was passed aiming to fulfill the demands set by the International Monetary Fund for seeking a USD …

Will Pakistan's economic crisis affect Beijing-Islamabad relationship? China's quandary grows
2 years, 1 month ago

Will Pakistan's economic crisis affect Beijing-Islamabad relationship? China's quandary grows

India TV News  

Pakistan's economic crisis: China which holds Islamabad’s largest debt on Monday said it backed measures taken by its "all-weather friend" Pakistan to tide over the disastrous situation and hoped it will, in the end, pull through. Pakistan at the verge of default Pakistan’s current account deficit shrank 90.2 per cent to USD 0.24 billion in January from USD 2.47 billion …

China in Quandary as Pakistan Faces Debt Default After Steep Fall in Forex Reserves
2 years, 1 month ago

China in Quandary as Pakistan Faces Debt Default After Steep Fall in Forex Reserves

News 18  

Watching warily Pakistan plunging into the worst economic crisis with prospects of defaulting on foreign loans, China which holds Islamabad’s largest debt on Monday said it backed measures taken by its “all-weather friend” to tide over the disastrous situation and hoped it will, in the end, pull through. Pakistan’s current account deficit shrank 90.2 per cent to USD 0.24 billion …

Pakistan imports threatened as forex reserves hit eight-year low
2 years, 2 months ago

Pakistan imports threatened as forex reserves hit eight-year low

Firstpost  

Pakistan has just $11.4 billion in reserves – enough to pay for just three weeks of imports, traders and economists say Karachi: Pakistan’s central bank forex reserves have plunged to an eight-year low of $5.6 billion, posing a serious challenge for the country in financing imports. Coupled with another $5.8 billion held by commercial banks, the nation has $11.4 billion …

Pakistan central bank’s forex reserves fall to near four-year low
2 years, 3 months ago

Pakistan central bank’s forex reserves fall to near four-year low

Al Jazeera  

Announcement by the State Bank of Pakistan comes as the country is in dire need of foreign aid. Islamabad, Pakistan – Pakistan’s central bank says its foreign exchange reserves have fallen to $6.7bn, its lowest level in nearly four years as the country battles an economic crisis. Thursday’s announcement by the State Bank of Pakistan came as the country is …

Cash-strapped Pakistan to receive additional $13 billion from China, Saudi Arabia
2 years, 4 months ago

Cash-strapped Pakistan to receive additional $13 billion from China, Saudi Arabia

The Hindu  

Cash-strapped Pakistan has secured about $13 billion in additional financial support from its traditional allies China and Saudi Arabia, Finance Minister Ishaq Dar has said, as the government tries to steady the country's weak economy. Responding to another question, Mr. Dar said Saudi Arabia had also “given a positive response” to Pakistan’s request for increasing its financing by another $3 …

Cash-strapped Pakistan to receive additional USD 13 billion from China, Saudi: Report
2 years, 4 months ago

Cash-strapped Pakistan to receive additional USD 13 billion from China, Saudi: Report

India TV News  

Cash-strapped Pakistan to receive additional USD 13 billion from China, Saudi: Report During Prime Minister Shehbaz Sharif’s recent visit to Beijing, the Chinese leadership promised to roll over USD 4 billion in sovereign loans, refinance USD 3.3 billion commercial bank loans and increase currency swap by about USD 1.45 billion — from 30 billion yuan to 40 billion yuan. Cash-strapped …

China will continue to fund Pakistan
2 years, 4 months ago

China will continue to fund Pakistan

Live Mint  

Chinese President Xi Jinping has said that his country will continue to support Pakistan in stabilising its financial situation. The comment comes after Shehbaz Sharif, the prime minister of Pakistan, travelled to Beijing to meet with Chinese officials to discuss the $65 billion China Pakistan Economic Corridor project. An aide travelling with the prime minister told Reuters that during his …

‘You Import More, Export Less’: China Wants Balanced Trade, ‘Iron Ally’ Pakistan Told
2 years, 11 months ago

‘You Import More, Export Less’: China Wants Balanced Trade, ‘Iron Ally’ Pakistan Told

News 18  

China’s iron-ally Pakistan has become a cause of economic concern for the former as Beijing asked Islamabad to reduce imports. “You import more and export less, even though my government in collaboration with your government is trying to narrow down the trade deficit,” Bijian said that China wants to see more balanced trade. The United States Institute Of Peace in …

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