Pakistan takes Loan of Rs 32,000 Crore from China to Repay Loan
Fresh Chinese Loan in Local Currency Pakistan aims to keep its dwindling foreign exchange reserves afloat. To achieve this, it is set to receive an additional loan of $3.7 billion (approximately ₹32,000 crore) from China by the end of June. Uniquely, the loan will be disbursed in Chinese yuan. This is instead of US dollars. It marks a significant shift in China's lending approach. This will be the largest single foreign loan Pakistan is expected to receive in recent times. It is aimed at temporarily strengthening its foreign reserves. However, this financial support comes amid mounting debt obligations that Pakistan…
