China has rolled over $3.4 billion in loans, providing crucial support to Pakistan as its foreign exchange reserves reach $14 billion, a Finance Ministry official confirmed.
The renewed package includes $2.1 billion that had been held with the State Bank of Pakistan for three years, along with the refinancing of a $1.3 billion commercial loan repaid by Islamabad two months ago.
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In addition, Pakistan received $1 billion from Middle Eastern commercial banks and another $500 million via multilateral funding sources.
“These inflows have helped us meet the IMF’s reserve target,” the official noted.
The funding is a key requirement under Pakistan’s $7 billion IMF agreement, which stipulates reserves must exceed $14 billion by June 30.
Officials say recent economic reforms under the IMF program are contributing to signs of macroeconomic stability.
