Pakistan🇵🇰 Received $6.5 Billion💰 Loan From 🇨🇳China in July-April: Report

For the first time, Pakistan has disclosed that it has taken a total debt of $6.5 billion from China in the current financial year, which is equal to 75 per cent of the total foreign loans of $8.6 billion the cash-strapped country received during the period.
 
Prime Minister Imran Khan's government, under pressure from the International Monetary Fund (IMF) from which Pakistan is seeking a $6-billion bailout package, has disclosed the type of loans that Islamabad has received from its ally, the Express Tribune reported.

According to the finance ministry's documents, foreign loan disbursements between July 2018 and April 2019 of the current financial year showed loans for the Karachi Nuclear Power Plants, known as K2 and K3, and China SAFE deposits as part of federal debt obligations.

SAFE is an acronym for the State Administration of Foreign Exchange managed by the Chinese central bank.

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