The Export-Import Bank of China (EXIM) has extended $2.4 billion to Pakistan, providing comfort to the outgoing Pakistan Democratic Movement-led administration as it attempts to satisfy Pakistan’s debt obligations due next year.
In a tweet, Finance Minister Ishaq Dar stated that the bank has rolled over the funds for two years, which are due in the next two fiscal years — $1.2 billion in FY2023-24 and the same amount in FY2024-25.
“Pakistan will make interest payments only in both years,” said the finance minister, whose government’s tenure will end in August.
