Pakistan Seeks Debt Relief from China and IMF amid Economic Crisis
• Pakistan has requested China to roll over a $2 billion loan that is maturing on March 23rd, as the country faces a cash crunch • Pakistan has so far secured $4 billion in loans from China to help stabilize foreign reserves and external debt payments • The UAE recently rolled over a $2 billion loan to Pakistan; Saudi Arabia has deposited $5 billion in Pakistan's central bank • Pakistan has requested the IMF to send a mission for talks on the last $1.2 billion loan tranche under the current program • Pakistan owes nearly $125 billion to external creditors, with about one-third owed to China, contributing to its economic crisis