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ISLAMABAD: China has agreed to immediately give a $2b loan to Pakistan in a major development. Its purpose to arrest the sliding official foreign currency reserves and provide most-needed inhale space to the new government.

China Agrees To Give $2 billion Loan To Pakistan

China Agrees To Give $2 billion Loan To Pakistan

According to the sources of the Ministry of Finance and State Bank of Pakistan, the $2b loan will be categorized as an “official bilateral inflow”.

They also said that this week over $1b amount has already been transferred to the accounts of SBP, and would reflect in the reserves data to be released on August 2. This $2b amount will push SBP, held foreign currency reserves past $10 billion.

Earlier in this week, the report of SBP that official foreign currency reserves had fallen to $9 for the period ending July 20.

Ahmad Khan has been a film producer, private investigator, reporter, teacher, and screenwriter. Graphics Designer And Web Developer | CEO At Next Tech

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