Vaartha Online International – Pak borrows Rs 11,000 crore from China December 13, 2020 19:03 by Sakshi NewsDesk Pak expected to pay $ 1 billion on Monday Source Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)MoreClick to print (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Skype (Opens in new window) RELATED NEWS
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<p>ISLAMABAD: Pakistan has now sought China’s help to pay off a $ 2 billion debt it has borrowed from Saudi Arabia. Pak is making another loan to pay off one debt. China, which has already announced a number of measures to get Pak out of debt, will freshly lend once again.</p>
<p>China has stepped in to provide $ 1.5 billion in financial assistance to help Pak get out of the crisis. The Pakistani government on Monday decided to repay a $ 1 billion debt to the Saudi government in the wake of the Chinese financial crisis. The remaining $ 1 billion is scheduled to be paid in January. Sources close to the Tribune have shared details to this effect.</p>
<p>However, this loan is not going to be given directly by China. The loan is being extended by extending the currency swap agreement signed with Pakistan in 2011.</p>
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