ISLAMABAD: Pakistan is still bracing itself for other repayment deadlines that risk tipping the country into default.
With a crucial IMF lending programme stalled, Pakistan has about $3.7bn in overseas debt due in two months of May and June. Financial Times quoted two of the senior Pakistani officials who said that Beijing had committed to help the country meet two crucial debt repayments in June worth a total of $2.3bn by providing fresh funds immediately after Pakistan makes the payments.
The refinancing of the commercial loans worth $1.3bn and a Chinese government loan of $1bn would help Pakistan avert immediate default, the Pakistani officials said.
