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Pakistan Reaches $2.3 Billion Refinancing Agreement With Chinese Banks

byNews Desk

June 3, 2022

in Business, Economy, Finance

Reading Time: 1 min read

Pakistan Reaches $2.3 Billion Refinancing Agreement With Chinese Banks

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On Thursday, Finance Minister Miftah Ismail said that the terms and conditions for refinancing of $2.3 billion deposit by Chinese banks (about RMB 15 billion) have been agreed.

“The terms and conditions for refinancing of RMB 15 billion deposit by Chinese banks (about US$ 2.3 billion) have been agreed. Inflow is expected shortly after some routine approvals from both sides,” the finance minister said in a tweet.

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Good News: The terms and conditions for refinancing of RMB 15 billion deposit by Chinese banks (about US$ 2.3 billion) have been agreed. Inflow is expected shortly after some routine approvals from both sides. This will help shore up our foreign exchange reserves.
— Miftah Ismail (@MiftahIsmail) June 2, 2022

The minister added that the inflow will help shore up the foreign exchange reserves.

Tags: $2.3 Billion Refinancing Agreement China Chinese banks

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