May 26, 2023

Pakistan pins hopes on Chinese help in debt crunch

Karachi/New Delhi: Pakistan expects China to roll over more than $2 billion in debt due next month, but is still bracing itself for other repayment deadlines that risk tipping the country into default.With a crucial IMF lending programme stalled, Pakistan has about $3.7 billion in overseas debt due this month and in June against its current foreign reserves of just $4.3 billion. Two senior Pakistani officials said Beijing had committed to help the country meet two crucial debt repayments in...