Posted 1/27/2024, 2:00:02 PM
Pakistan Seeks $2 Billion Loan From China to Help Service Debt
- Pakistan has asked China for $2 billion in financial assistance for 1 year to help with debt payments
- This would roll over existing $4 billion in loans from China that are maturing on March 23
- Pakistan recently secured loan rollovers from UAE ($2 billion) and Saudi Arabia ($5 billion)
- An IMF mission is expected this month to discuss $1.2 billion loan tranche and a potential new program
- Pakistan owes $125 billion total to external creditors, with about 1/3 owed to China