Thursday, Apr 25 2024 | Time 17:36 Hrs(IST)
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World


Pakistan uses Chinese trade finance to repay foreign debt

Islamabad, June 10 (UNI) Pakistan has largely exhausted a Chinese trade financing facility to repay its foreign debt as the finance ministry struggles to find another source to finance the current account deficit in June in a bid to keep foreign currency reserves at current levels and prevent them from falling further, according to a report in The Express Tribune on Sunday.
The State Bank of Pakistan (SBP) has largely tapped
1.5 billion in additional trade financing facility available under the China-Pakistan currency swap arrangement, said sources in the central bank and the Ministry of Finance.
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