China has once again stepped up to support Pakistan during its ongoing financial challenges. The Chinese government and its banks have rolled over commercial loans worth $3.4 billion, helping ease pressure on Pakistan’s foreign reserves.
According to reports, China has extended the repayment of $2.1 billion that has been parked with the State Bank of Pakistan (SBP) for the past three years. Additionally, a $1.3 billion commercial loan has also been rolled over.
Sources also revealed that Pakistan received $1 billion from a commercial bank in the Middle East, further strengthening its financial position.
With these rollovers and fresh funding, the SBP’s foreign exchange reserves are expected to increase significantly, potentially reaching $14 billion.
This development is viewed as a positive step toward enhancing Pakistan’s global financial credibility and fostering confidence ahead of any future IMF program.
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