{"id":86405,"date":"2022-06-05T10:48:00","date_gmt":"2022-06-05T05:48:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=86405"},"modified":"2022-06-03T18:07:42","modified_gmt":"2022-06-03T13:07:42","slug":"pak-2-5-bn-china-fiscal-management","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pak-2-5-bn-china-fiscal-management.html","title":{"rendered":"Pakistan to receive USD 2.5 bn from China for fiscal management"},"content":{"rendered":"\n<p>Islamabad: Minister of Finance Miftah Ismail on Thursday (June 02) announced that the inflow of USD 2.3 billion from China is expected to be released soon to support the foreign exchange reserves of Pakistan, news sources reported. The loan is part of the China-Pakistan agreement worth USD 4.2 billion.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/pakistan-6-growth-rate-fy-2021-22.html\" data-type=\"post\" data-id=\"86069\" target=\"_blank\" rel=\"noreferrer noopener\">Pakistan surprises IMF, World Bank with nearly 6% growth rate in FY 2021-22<\/a><\/p>\n\n\n\n<p>According to reports, the finance minister stated in a Tweet from his official account that \u2018the terms and conditions for refinancing of <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zameen.com\/news\/chinese-bank-to-provide-usd-262-mn-for-thar-power-project.html\" data-type=\"post\" data-id=\"46151\" target=\"_blank\">RMB 15 billion in deposits by Chinese banks<\/a> (approximately USD 2.3 billion) have been approved, Inflow is expected shortly following routine approvals from both sides. This will contribute to the strengthening of our foreign exchange reserves.\u2019 The financing was made available following the breakdown of USD 1 billion trench negotiations with the International Monetary Fund (IMF), which had put the government in economic distress.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"twitter_widget_wrapper alia_embed_wrapper\"><div class=\"twitter_widget_border\"><!--ALIA start embed content--><blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">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.<\/p>&mdash; Miftah Ismail (@MiftahIsmail) <a href=\"https:\/\/twitter.com\/MiftahIsmail\/status\/1532345648137531393?ref_src=twsrc%5Etfw\">June 2, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><!--AliA end embed content--><\/div><\/div>\n<\/div><\/figure>\n\n\n\n<p>According to the minister, the much-needed cash from China would assist in<a href=\"https:\/\/www.zameen.com\/news\/state-bank-policy-rate-250-points.html\" data-type=\"post\" data-id=\"85212\" target=\"_blank\" rel=\"noreferrer noopener\"> stabilising the market<\/a> and provide relief to the strained economy. It is worth noting that international creditors have also halted loans during IMF discussions.&nbsp;<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/world-bank-port-construction-sonmiani.html\" data-type=\"post\" data-id=\"81309\" target=\"_blank\" rel=\"noreferrer noopener\">World Bank suggests building new port in Balochistan to address demand<\/a><\/p>\n\n\n\n<p>The country&#8217;s reserves have dipped below USD 10 billion, resulting in increased economic hardship. Furthermore, the IMF has advised the government to progressively eliminate fossil fuel and power subsidies in order to conserve much-needed reserves.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Minister of Finance Miftah Ismail on Thursday (June 02) announced that the inflow of USD 2.3 billion from China is expected to be released soon to support the foreign exchange reserves of Pakistan, news sources reported. The loan is part of the China-Pakistan agreement worth USD 4.2 billion.&nbsp;&nbsp;&nbsp; Read: Pakistan surprises IMF, World Bank with nearly 6% growth rate in FY 2021-22 According to reports, the finance minister stated in a Tweet from his official account that \u2018the terms and conditions for refinancing of RMB 15 billion in deposits by Chinese banks (approximately USD 2.3 billion) have been approved, Inflow is expected shortly following routine approvals from both sides. This will contribute to the strengthening of our foreign exchange reserves.\u2019 The financing was made available following the breakdown of USD 1 billion trench negotiations with the International Monetary Fund (IMF), which had put the government in economic distress.\u00a0 According to the minister, the much-needed cash from China would assist in stabilising the market and provide relief to the strained economy. It is worth noting that international creditors have also halted loans during IMF discussions.&nbsp; Read: World Bank suggests building new port in Balochistan to address demand The country&#8217;s reserves&hellip;<\/p>\n","protected":false},"author":84,"featured_media":62137,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[26167,52575,52576,52574],"persona":[],"class_list":{"0":"post-86405","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-imf-acknowledges-pakistans-response-in-preventing-coronavirus-spread","9":"tag-imf-deal","10":"tag-imf-trench-negiotiations","11":"tag-pakistan-to-receive-usd-2-5-bn-from-china-for-fiscal-management","12":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pak to get USD 2.5 bn from China for fiscal management- Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: Minister of Finance Miftah Ismail on Thursday (June 02) announced that the inflow of USD 2.3 billion from China is expected to be released soon\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/pak-2-5-bn-china-fiscal-management.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pak to get USD 2.5 bn from China for fiscal management- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: Minister of Finance Miftah Ismail on Thursday (June 02) announced that the inflow of USD 2.3 billion from China is expected to be released soon\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/pak-2-5-bn-china-fiscal-management.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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