China loans Pakistan central bank $2.3 billion
Ailing country in talks with IMF as foreign exchange shortage crimps fuel purchases
A “Chinese consortium” has loaned the State Bank of Pakistan 15 billion yuan ($2.3 billion), as the country struggles with balance-of-payments problems.
Pakistani finance minister Miftah Ismail did not specify what entities or firms were participating in this consortium. China agreed to roll over $4.2 billion in loans to Pakistan in March.
As of June 17, the State Bank of Pakistan has $8.24 billion in liquid foreign exchange reserves, down from $10.3 billion six weeks before. Pakistani banks
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