Pakistan has approached China with a request to reschedule its USD 3.4 billion debt over two years, aiming to cover a foreign funding shortfall highlighted by the International Monetary Fund (IMF). The request marks Islamabad’s second appeal for aid from Beijing in just five months.
The formal plea was delivered by Deputy Prime Minister Ishaq Dar during a visit to Beijing, according to The Express Tribune, citing governmental insiders. This appeal includes a proposal for the rearrangement of loans maturing from October 2024 to September 2027, offered by China’s Export-Import Bank (Exim Bank).
The move is part of a larger effort to bridge an external financing gap of USD 5 billion, stretching through a three-year program period,…
