$28 Billion Purchased Over 3 Years: State Bank Governor

(Digital Itla) State Bank Governor Jameel Ahmad informed media representatives following a Senate Standing Committee on Finance meeting that Pakistan repaid a $1.4 billion commercial loan to China, significantly easing external debt pressure this year. A total of $2.2 billion in external debt was serviced in July, including the $1.4 billion Chinese loan and $800 million in other liabilities. Refinancing from China is expected within weeks. Over the past three years, $28 billion was acquired to boost foreign exchange reserves, reducing external debt servicing requirements from $26.5 billion to $21.5 billion.