Pakistan secures $300 million loan, first from a foreign bank since 2022, to aid IMF program.

Pakistan secured a $300 million commercial loan from United Bank Limited at interest rates of 7.2% to 7.7%, repayable within a year, to help meet its external financing needs under the IMF program. This marks the first foreign loan outside China since 2022, following previous hesitation by international banks due to Pakistan's low credit ratings. The IMF has identified a $2.5 billion financing gap for the current fiscal year.

3 months ago
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