China to provide $2.5 billion loan to Pakistan

China will provide $2.5 billion in loans to Pakistan to boost the foreign exchange reserves. Pakistan is nearly broke with the drying up of foreign cash reserves and mounting external debt. The country's $8.12 billion reserves, which are below the minimum level that the IMF and the World Bank (WB) prescribe, are sufficient to cover only seven weeks of imports.

from World News Headlines, Latest International News, World Breaking News - Times of India http://bit.ly/2UwrJJi