ISLAMABAD, March 31 — Pakistan’s finance minister, Ishaq Dar, said today that China had rolled over a US$2 billion loan that matured last week, providing relief during the South Asian nation’s acute balance of payment crisis.
“I am happy to confirm that this had been rolled over on March 23,” Dar told parliament, referring to the maturity date. He said all concerned documentation had been completed. Dar’s comments were the first official announcement of the rollover after the loan matured. Dar did not give the new maturity date or other terms of the arrangement.
Islamabad has been negotiating with the IMF since early February for the release of US$1.1 billion from a US$6.5 billion bailout package agreed in 2019.
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