{"id":224742,"date":"2025-06-29T19:27:10","date_gmt":"2025-06-29T19:27:10","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/224742\/"},"modified":"2025-06-29T19:27:10","modified_gmt":"2025-06-29T19:27:10","slug":"china-rolls-over-3-4bn-of-commercial-loans-to-pakistan","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/224742\/","title":{"rendered":"China &#8216;rolls over&#8217; $3.4bn of commercial loans to Pakistan"},"content":{"rendered":"<p>    <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/611563_3115319_updates.jpg\" alt=\"Currency dealer trader counts the US dollar notes at a currency exchange office, in Karachi July 13, 2023. \u2014 PPI\" width=\"700\" height=\"400\" class=\"\"\/><\/p>\n<p>Currency dealer trader counts the US dollar notes at a currency exchange office, in Karachi July 13, 2023. \u2014 PPI<\/p>\n<ul>\n<li>Beijing rolls over $2.1bn, refinances another $1.3bn loan.<\/li>\n<li>Reserves to reach IMF-required $14 billion target.<\/li>\n<li>China remains Pakistan&#8217;s largest bilateral creditor.<\/li>\n<\/ul>\n<p>China has rolled over $3.4 billion in loans to Pakistan, which together with other recent commercial and multilateral lending will boost Pakistan&#8217;s foreign exchange reserves to $14 billion, a finance ministry source said on Sunday.<\/p>\n<p>Beijing rolled over $2.1 billion, which has been in Pakistan&#8217;s central bank&#8217;s reserves for the last three years, and refinanced another $1.3 billion commercial loan, which Islamabad had paid back two months ago, the source said.<\/p>\n<p>Another $1 billion from Middle Eastern commercial banks and $500 million from multilateral financing have also been received, he said.<\/p>\n<p>&#8220;This brings our reserves in line with the IMF target,&#8221; he said.<\/p>\n<p>The loans, especially the Chinese ones, are critical to shoring up Pakistan&#8217;s low foreign reserves, which the IMF required to be over $14 billion at the end of the current fiscal year on June 30.<\/p>\n<p>Pakistani authorities say that the country&#8217;s economy has stabilised through ongoing reforms under a $7 billion IMF bailout.<\/p>\n<p>Earlier, on March 9, 2025, China extended the repayment period of a $2 billion loan to Pakistan by one year, the finance ministry had confirmed.<\/p>\n<p>Around 92% of Pakistan&#8217;s external debt is owed to three major sources including multilateral and bilateral creditors as well as international bonds, according to The News.<\/p>\n<p>Among the bilateral creditors, China is on the top keeping in view the total external debt and liabilities.<\/p>\n<p>Pakistan\u2019s foreign exchange reserves held by the State Bank of Pakistan (SBP) declined by $2.66 billion during the week ending June 20, 2025, bringing the central bank\u2019s reserves down to $9.06 billion, according to data released by the SBP.<\/p>\n","protected":false},"excerpt":{"rendered":"Currency dealer trader counts the US dollar notes at a currency exchange office, in Karachi July 13, 2023.&hellip;\n","protected":false},"author":2,"featured_media":224743,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,1700,16,15],"class_list":{"0":"post-224742","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114768304273243851","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/224742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=224742"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/224742\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/224743"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=224742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=224742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=224742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}