Months after rolling over a $4.5 billion loan that was due to be repaid this year, China has again bailed out Pakistan by providing $2.5 billion in assistance to support the rapidly declining foreign exchange reserves of its cash-strapped all-weather ally.
The Chinese assistance was announced after France and Pakistan agreed to suspend their $107 million loan as part of the G20 Debt Service Suspension Initiative (DSSI).
According to a statement released by Pakistan’s Economic Affairs Division on Monday, the agreement was signed by French Ambassador Nicolas Galey and Ministry of…
