 "Islamabad: Pakistani Prime Minister Imran Khan addresses a Kashmir rally in Islamabad, Pakistan, Friday, Oct. 11, 2019. Pakistan's foreign minister says Prime Minister Imran Khan will travel to Iran's capital Saturday before traveling on to Saudi Ar")
The cash-strapped Pakistan government of Prime Minister Imran Khan borrowed $10.40 billion as loans from friendly countries like China and the UAE to stabilise the foreign exchange reserves and repayment of old loans, a media report said on Thursday.
Pakistan has been facing a serious economic crisis with short supplies of foreign currency reserves and stagnating growth. Since assuming power in last August, Prime Minister Khan has been appealing to close allies to provide concessional loans to reduce the size of the bailout package that Pakistan may need from the IMF.
The Economic Affairs Division, in a reply submitted in the National Assembly, the lower House, said that the loans borrowed in the government included bilateral, multilateral and commercial loans, ARY News reported.
