The Big Picture: Pakistan’s Decision to Request the Rollover of $2 Billion Loan from China

It has been reported that Anwaarul Haq Kakar, the caretaker Prime Minister,The Big Picture: Pakistan’s Decision to Request the Rollover of $2 Billion Loan from China has sent a letter to China’s Premier Li Keqiang regarding this matte .

The $2 billion loan is scheduled to be fully deposited by March 23, 2024, as the officials from Pakistan’s finance ministry maintain communication with Chinese authorities regarding this issueThe Big Picture: Pakistan’s Decision to Request the Rollover of $2 Billion Loan from China.

In his correspondence, PM Kakar expressed gratitude to the Chinese government for their generous financial assistance to Pakistan. He further acknowledged that our steadfast ally had offered a loan to Pakistan during a challenging economic period.

In his correspondence, PM Kakar expressed gratitude to the Chinese government for their generous financial assistance to Pakistan. He further acknowledged that our steadfast ally had offered a loan to Pakistan during a challenging economic period.

The central bank has officially confirmed the development through a post on social media platform X, previously known as Twitter.

The official statement announced that the UAE has officially extended the duration of its two deposits, each worth US$1.0 billion, with the State Bank of Pakistan for an additional year. These deposits, which were originally set to mature in January 2024, will now continue to be in effect.

In January 2023, the United Arab Emirates (UAE) also consented to extend the current debt of $2 billion owed by Pakistan and granted an additional $1 billion loan to bolster the nation’s foreign exchange reserves.