Over this past weekend, Pakistan made a payment of roughly $328 million guaranteed Chinese debt that the country had taken to set up power plants. The processing of the $500 million loan was at an advanced stage. The draft of the $700 million loan agreement has also been received they added. The SBP governor also added that Pakistan expects a bilateral commercial loan of $2.2 billion to go from its accounts and be returned. Foreign commercial banks are now demanding an interest rate much higher than 10%, which the government cannot politically afford.

Source: The Express Tribune January 24, 2023 20:36 UTC