Pakistan requests China to reschedule $3.4 billion debt for two years

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Pakistan requests China to reschedule $3.4 billion debt for two years - Business Standard

Quick Summary:

Pakistan has requested China to reschedule USD 3.4 billion debt for two years to bridge a foreign funding gap identified by the International Monetary Fund, according to a media report on Saturday.

Pakistan requested the Export-Import (Exim) Bank of China to consider rearrangement of its loans due from October 2024 to September 2027, said the government officials.

Deputy Prime Minister Ishaq Dar made the formal request during this week's visit to Beijing, The Express Tribune newspaper reported, quoting government sources.