Pakistan seeks economic lifeline with fresh China loans up to $2 bn

Pakistan expects to obtain fresh Chinese loans worth $1-2 billion to help it avert a balance of payments crisis, Pakistani government sources said, in another sign of Islamabad's growing reliance on Beijing for financial support.

Lending to Pakistan by China and its banks is on track to hit $5 billion in the fiscal year ending in June, according to recent disclosures by officials and Pakistan finance ministry data reviewed by Reuters. The ramp up in China's lending comes as the United States is cutting aid to Pakistan following.....

This article is no longer available in our repository.

There could be multiple reasons for this.