A $2.3 billion loan agreement with a Chinese consortium, announced by Finance Minister Miftah Ismail on Wednesday, indicates that the government is indeed exploring multiple avenues for financing. This injection is reportedly going to be directed towards shoring up our foreign reserves, which is extremely important in the current period of stagnation and low growth. Going forward, one of the key tasks for the finance team of the government in the next year should be to shore up our foreign reserves. This will be crucial in stablising the Rupee and bringing up its value if the government also looks to adjust other policies alongside. The government’s move to make this financing option available for us in record time—even before the IMF deal has been officially reinstated—is nothing short of an achievement.

Source: The Nation June 24, 2022 12:12 UTC