China Lends $1 Billion to Pakistan to Boost Dwindling Foreign Reserves

JUN 30, 2018: China has lent Pakistan $1 billion to boost the country’s plummeting foreign currency reserves, two sources in the finance ministry told Reuters, amid growing speculation of another International Monetary Fund bailout. The latest loan highlights Islamabad’s growing dependence on Chinese loans to buffer its foreign currency reserves, which plunged to $9.66 billion […]