Pakistan struggling to arrange $1.8 billion for repayment of Chinese loan ...Middle East

Karachi: Pakistan’s foreign exchange market is tense on reports about the expected higher dollar outflows, local media reported. State Bank of Pakistan (SBP) is currently burdened with arranging $1.8 billion for repayment of a Chinese loan due in March, Dawn reported. “The Ministry of Finance has yet not provided local currency equivalent to $1.8bn to the State Bank for making payment to China,” finance ministry sources said. Despite higher outflows of profits and dividends on foreign investments during the first seven months of the current fiscal year, the stuck-up amount is more than what had been repatriated. The sources said the local currency against $800 million has been provided but

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