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Pakistan Repays $1B Chinese Loan, Eyes Fresh Refinancing
Pakistan has successfully repaid a $1 billion loan to the Industrial and Commercial Bank of China (ICBC) in two installments. However, this repayment has temporarily brought down the country’s foreign exchange reserves to $10.6 billion. Despite this significant outflow, Islamabad remains hopeful of securing refinancing from China, a crucial move as another $300 million repayment to ICBC...
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