China rolls over $2bn debt as forex reserves plunge

ISLAMABAD : According to the media report, China has rolled over a $2 billion loan in State Administration Foreign Exchange (SAFE) deposit for a year for Pakistan’s economy amid dwindling forex reserves. So far in totality, China has rolled over a $4.3 billion loan, including $2.3 billion in commercial loans and now $2 billion in SAFE deposits, making it possible for Islamabad for bridging the external financing gap with a whopping amount of $35.9 billion for the current fiscal year.