Pakistan Repays $1B Chinese Loan, Hopes for Refinancing
Pakistan has repaid a $1 billion loan to ICBC in two tranches, temporarily reducing forex reserves to $10.6 billion.
Another $300 million ICBC loan is due in April. The government is hopeful for refinancing as discussions continue.
Pakistan remains reliant on China, with $2.7 billion in Chinese loans maturing between April and June.
Meanwhile, an IMF staff-level agreement for a $1 billion tranche is pending approval.
Talks on real estate and tax reforms continue as Pakistan seeks $5 billion in external financing to stabilize its economy.
Author: Saikat Bhattacharya
