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The IMF has requested to re -determinate a $ 3.4 billion loan from China for two years to bridge the foreign funding difference by the IMF. In the last five months, Islamabad has requested Beijing to reconstruct the loans provided by its Exim Bank for the second time.
Islamabad. Pakistan has requested China to reconstruct a $ 3.4 billion loan from China for two years to bridge the foreign financing difference marked by the International Monetary Fund (IMF). In the last five months, Islamabad has requested Beijing to reconstruct the loans provided by its Exim Bank for the second time. Quoting government sources, the newspaper 'The Express Tribune' has said that Deputy Prime Minister Ishaq Dar made a formal request during the visit of Beijing this week.
Government officials said that Pakistan has requested China's export-utmost (Exim) bank to consider the renovation of its loans from October 2024 to September 2027. A two -year extension was sought to repay the official and guaranteed loans received from the Exim Bank. Pakistan will continue to pay interest. Sources said that Pakistan had to identify financing sources to meet the external financing gap of five billion dollars for a three -year program period.
He said that Chinese officials are positive and hopeful that Beijing will accept Pakistan's request to reduce external funding problems. Earlier, in September last year, the Finance Minister wrote a letter to the Exim Bank requesting the renovation. According to a joint statement issued by China-Pakistan on Thursday, the Pakistani side reiterated its praise for its valuable support for its fiscal and financial stability. This statement was released after President Asif Ali Zardari's state visit to Beijing.
Disclaimer: Prabhasakshi has not edited this news. This news has been published from the feed of PTI-language.
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