💨 Abstract

China has extended the repayment period of Pakistan's $2 billion loan by a year, providing financial relief to the dollar-deficit country amid economic challenges, including pressure on foreign exchange reserves. China is one of Pakistan's top bilateral creditors, holding 92% of its external debt. Pakistan is also seeking a fresh loan tranche from the International Monetary Fund (IMF) for further financial support.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖