loan
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China’s EXIM Bank rolls over $2.4bn loan to Pakistan
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[ad_1] Representational image of dollars. — AFP Finance Minister Ishaq Dar announced Thursday that the Export-Import Bank of China (EXIM) has rolled over $2.4 billion to Pakistan. This comes as a sigh of relief for the outgoing Pakistan Democratic Movement-led government as it seeks to meet Pakistan’s debt payments due next year. In a tweet,…
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Government takes decisive action against illegal loan apps | The Express Tribune
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[ad_1] KARACHI: In a bold move to tackle the proliferation of illegal loan applications and safeguard consumers from fraudulent practices, the Federal Minister for Information Technology (MoIT) has launched a comprehensive crackdown, instructing the Pakistan Telecommunication Authority (PTA) and the Securities and Exchange Commission of Pakistan (SECP) to take swift and stringent action against unregistered…
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Realisation of $300m loan takes forex reserves past $4bn mark
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[ad_1] A currency exchange dealer counts $100 bills. — AFP/File The forex reserves held by the State Bank of Pakistan (SBP) got a boost after the realisation of a $300 million commercial loan that pushed the money held by central bank past the $4 billion mark. A statement issued by the central bank showed that…
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China refinances $1 billion Pakistan loan
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[ad_1] The picture shows $100 notes. — AFP/File In a positive development, China on Friday rolled over a $1 billion loan to Pakistan shoring up the State Bank of Pakistan-held (SBP) foreign exchange reserves. The development came hours after Finance Minister Ishaq Dar informed the National Assembly’s Standing Committee on Finance and Revenue that China would be…
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In relief for Pakistan, South Korea defers loan worth millions
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[ad_1] The government of Pakistan signs agreement with the Republic of Korea under the G-20 Debt Service Suspension Initiative on May 15, 2023 in Islamabad. — PID The Republic of Korea on Monday differed Pakistan’s loan worth $19.911 million on Monday, under the G-20 Debt Service Suspension Initiative (DSSI) framework as Islamabad battles a worsening…
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SBP-held reserves move upwards on back of commercial loan
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[ad_1] A photo of a person holding US dollar bills. — AFP/File The State Bank of Pakistan (SBP)-held foreign exchange reserves increased after the struggling economy received another loan. “The increase in SBP reserves is mainly due to receipt of $300 million of GoP commercial loan,” a statement from the central bank said, as the…
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China rolls over $2b loan to Pakistan | The Express Tribune
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[ad_1] ISLAMABAD: Pakistani Finance Minister Ishaq Dar said on Friday that China had rolled over a $2 billion loan that matured last week, providing relief during the nation’s acute balance of payment crisis. Locking in a rollover had been critical for Pakistan, where reserves have dipped to just four weeks’ worth of imports and talks…
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Chinese loan rollover of $2bn in process: govt source | The Express Tribune
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[ad_1] KARACHI: The rollover of a $2 billion Chinese loan to Pakistan that matured on March 23 is in process, a top government source told Reuters. With the country locked in unsuccessful talks to secure bailout funding from the International Monetary Fund (IMF), the rollover is critical for foreign exchange reserves that have dipped to…
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IMF’s $15.6b loan to Ukraine will be first to a country at war | The Express Tribune
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[ad_1] The International Monetary Fund (IMF) approved a $15.6 billion loan to Ukraine earlier this week, the first time the global lender extended assistance to a country at war, as Pakistan still struggles to fulfil challenging conditions to secure financing from the Fund. “The Ukrainian authorities and IMF staff have reached a staff-level agreement on…
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SBP-held reserves rise to $4.6bn on Chinese loan
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[ad_1] An undated image of a currency dealer holding $100 notes. — AFP The State Bank of Pakistan (SBP)-held foreign exchange reserves maintained their uptrend for the sixth consecutive session, rising $280 million during the week ended March 17. Foreign exchange reserves increased by $280 million to $4.6 billion as of the week ended March…
