12 jam yang lalu
Although Pakistan has antecedently requested expanded indebtedness limits, China has declined specified appeals successful nan past. This latest move comes conscionable weeks aft Beijing extended nan $4.3 cardinal (30 cardinal yuan) installation for different 3 years.
In a caller entreaty for financial lifeline, Pakistan has asked China for an further 10 cardinal yuan ($1.4 billion) loan, aft exhausting its existing $4.3 cardinal facility. The request, made nationalist connected April 27, underscores nan deepening fiscal strains facing Islamabad.
Pakistan’s Finance Minister Muhammad Aurangzeb made nan petition to China’s Vice Minister of Finance, Liao Min, during nan IMF and World Bank yearly meetings successful Washington. He sought an summation successful nan rate switch statement limit to 40 cardinal yuan, according to a connection from Pakistan’s Finance Ministry issued precocious connected April 26.
Although Pakistan has antecedently requested expanded indebtedness limits, China has declined specified appeals successful nan past. This latest move comes conscionable weeks aft Beijing extended nan $4.3 cardinal (30 cardinal yuan) installation for different 3 years.
The 2 countries had signed a rate switch statement during Chinese Prime Minister Li Qiang’s caller visit, which extended Pakistan’s indebtedness repayment model to 2027. Pakistan has already afloat drawn down nan existing $4.3 cardinal waste and acquisition finance installation nether nan China-Pakistan statement to meet its indebtedness obligations.
Meanwhile, Aurangzeb said he expected nan IMF executive committee to o.k. nan Staff Level Agreement for a caller $1.3 cardinal ambiance resilience indebtedness programme and complete nan first reappraisal of nan ongoing $7 cardinal bailout programme successful early May.
Approval would unlock a $1 cardinal disbursement nether nan program, which Pakistan secured successful 2024 and has been captious to stabilizing its vulnerable economy.
The petition to China comes amid rising location tensions. Relations pinch India person worsened sharply pursuing nan Pahalgam panic onslaught successful Kashmir that killed 26 tourists, intensifying negotiated and economical pressures.
Asked astir nan imaginable fallout from nan tensions pinch India, Aurangzeb said it was "not going to beryllium helpful." He noted that bilateral waste and acquisition had already shrunk, totaling conscionable $1.2 cardinal past year.
(With inputs from agencies)
Published on: Apr 27, 2025 6:22 PM IST
English (US) · 
Indonesian (ID) ·