Pakistan received $700 million in financial aid from China. The funding comes as negotiations with the International Monetary Fund (IMF) for financial assistance are nearing completion. Pakistan’s Finance Minister Ishaq Dar announced earlier this week that they will get help from China.
He tweeted that State Bank of Pakistan received money from China Development Bank. Pakistan Prime Minister Shehbaz Sharif said that this financial assistance will never be forgotten. Both sides held talks with IMF representatives in Islamabad from January 31 to February 9 but failed to reach an agreement.
After that, both parties are holding virtual talks. A few weeks ago, Pakistan’s foreign exchange reserves reached a low of $2.9 billion. Whereas now it has risen to close to 4 billion dollars.
