ISLAMABAD: A sigh of relief for Pakistan as China has rolled over its safe deposit of $2 billion on the existing terms as the country’s foreign exchange reserves remain stabilized.
The deferment of the payment of $2 billion has been done for a year, sources in Finance Ministry said.
They also said that Pakistan was seeking confirmation of financing from Saudi Arabia and United Arab Emirates (UAE) which is a ‘prerequisite’ to secure loan tranche from International Monetary Fund (IMF).
Last week, sources within the finance ministry said Pakistan was seeking to get $2 billion each from China and Saudi Arabia, while meetings were underway to get $1 billion from the UAE.
Earlier, Finance Minister Ishaq Dar assured of publicizing the details of the staff-level agreement with the global lender.
Read more: IMF says ‘next step with Pakistan’ tied to external financing assurances
