News Snapshot:
Chinese banks will refinance Pakistan with $2.3 billion, says Miftah Ismail ISLAMABAD: Finance Minister Miftah Ismail said Thursday that Chinese banks have agreed to refinance Pakistan with $2.3 billion worth of funds which will “shore up Pakistan’s foreign exchange reserves.” Taking to his Twitter handle, Miftah wrote: “Good news. The terms and conditions for refinancing of RMB 15 billion deposit by Chinese banks (about $2.3 billion) have been agreed.” The finance minister further added that inflow is expected “shortly” after some routine approvals from both sides, adding that this will help shore up the country’s foreign exchange reserves. The news...
