China rolls over Pakistan's $2.4 billion debt: Ishaq Dar

Islamabad: Finance Minister Ishaq Dar confirmed the loan rollover by China.

In a statement on Twitter, Finance Minister Ishaq Dar said Chinese EXIM Bank has rolled over for two years principal amounts of following loans totalling US$ 2.4 billion.

The minister told that the loan is due in next two fiscal years i.e. 2023-14 and 2024-25. Therefore Pakistan will make interest payments only in both years.

Chinese EXIM Bank has rolled over for 2 years principal amounts of following loans totalling US$ 2.4 billion which are due in next 2 fiscal years:

FY2023-24: US$1.2 billion
FY2024-25: US$ 1.2 billion

Pakistan will make interest payments only in both years.

— Ishaq Dar (@MIshaqDar50) July 27, 2023

Earlier on July 18, China rolled over $600 million to Pakistan which was confirmed by Prime Minister Shehbaz Sharif.

Speaking at the ceremony in Islamabad, Shehbaz Sharif said that the economic indicators are improving with the support of friendly countries. China has rolled over 600 million dollars to Pakistan, which increased the reserves of Pakistan by 600 million dollars.