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Chinese bank to refinance USD 500 million loan for Pakistan

The Pakistani authorities are running from pillar to post to get 100 per cent confirmation from friendly donor countries and multilateral creditors before moving toward striking a staff-level agreement with the International Monetary Fund (IMF). It was an unwritten condition from the IMF that Pakistan must secure the refinancing of commercial loans as well as a rollover on deposits from China during the programme period, which is scheduled to expire in June 2023.
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