Pakistan Financial Crisis: Pakistan, China will lend 2.2.3 billion in severe economic crisis

Pakistan in economic crisis: The economic condition of Pakistan is continuously deteriorating. To deal with this situation, it has been forced to agree to a loan agreement with the International Monetary Fund. As a result, under the loan agreement, it will be able to obtain a loan of $ 2.3 billion from China. A Pakistani […]
 


Pakistan Financial Crisis: Pakistan, China will lend 2.2.3 billion in severe economic crisis

Pakistan in economic crisis: The economic condition of Pakistan is continuously deteriorating. To deal with this situation, it has been forced to agree to a loan agreement with the International Monetary Fund. As a result, under the loan agreement, it will be able to obtain a loan of $ 2.3 billion from China. A Pakistani media organization has quoted this information as saying. Pakistan is expected to get a loan of ₹2.3 billion from a consortium of Chinese banks in a few days.

Pakistan-China loan agreement has been signed

According to a report in Pakistan’s Dawn newspaper, the consortium of Chinese banks and Pakistan have already signed a 2.3 billion loan facility agreement. The agreement was announced on Wednesday, June 22, citing Pakistan’s Finance Minister Miftah Ismail. He said that the cash under the loan agreement is likely to reach Pakistan in a few days. On his Twitter account, Pakistan’s Finance Minister Mifta Ismail wrote that a Chinese consortium of banks approved a loan of 2.3 billion today after it was signed by Pakistan yesterday. These agreements have been signed. This money is likely to be received in a few days. We thank the Chinese government for facilitating this transaction.

Pakistan’s Finance Minister Ismail said China had agreed to extend the loan after a meeting between Foreign Minister Bilawal Bhutto-Zardari and talks between Chinese Premier Li Keqiang and Pakistani Prime Minister Shahbaz Sharif. However, in Wednesday’s announcement, Ismail did not elaborate on the agreement reached with the consortium.

 

What did the Foreign Minister of Pakistan say?

Pakistan’s Foreign Minister Bilawal Bhutto also wrote on social media regarding the loan deal, ‘I thank President Xi Jinping, Foreign Minister Wang Yi and the people of China. Agreement has been signed, thank you. The people of Pakistan are grateful for this. Our constant support, all the time, good and bad.