China agreed on Wednesday to a request by Pakistan to roll over a $4.2 billion debt that was due to be repaid this week. The decision is a big relief for Islamabad, which faces a major economic crisis. Pakistan’s Foreign Minister Shah Mehmood Qureshi announced the news after meeting his Chinese counterpart Wang Yi on the sidelines of the third meeting of ‘Foreign Ministers of Neighbouring Countries of Afghanistan’ in Tunxi, in China’s eastern Anhui province, NDTV reported.
“I am immensely happy to share that the Chinese Foreign Minister has given a nod of approval on the rollover of commercial loan as well,” Qureshi was quoted as saying by Pakistan daily Dawn. Details would be released once formalities had been completed, he said.
Read the full story: NDTV.
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