China to support Pakistan in stabilising financial position ...Qatar

Gulf Times - News

China will continue to support Pakistan as it tries to stabilise its financial situation, state media quoted President Xi Jinping as saying yesterday, during a visit by Pakistan’s prime minister to Beijing. Pakistan had been struggling with a balance of payments crisis even before devastating floods hit the country this summer, causing it an estimated $30bn or more in losses. Pakistan was expected to seek debt relief from China, particularly the rolling over of bilateral debt of around $23bn. China’s central bank and the State Bank of Pakistan have signed a memorandum of co-operation recently for the establishment of an RMB clearing arrangement in Pakistan, in a bid to facilitate the use of

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Last updated : 03 Nov 2022 clock 12:08 AM

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China to support Pakistan in stabilising financial position ...Qatar

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