Pak receives $2 bn rollover deposits from China to get IMF bailout: Report ...Middle East

Business Standard - Economy
Cash-strapped Pakistan has received a rollover of USD 2 billion in deposits for a period of one year from its all-weather ally China to help Islamabad get a much-required bailout from the IMF to stabilise its economy, a media report said on Friday. The rollover, which basically is not a loan but a financial deposit to be kept at Pakistan's central bank for a period of one year, is one of the requirements of the International Monetary Fund (IMF) in meeting its external financing needs in order to move towards inking the staff-level agreement, The News International reported. Minister for Finance Ishaq Dar confirmed the development. Yes, Dar was quoted as saying in a brief response when asked

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