ISLAMABAD (Reuters) - China has lent Pakistan $1 billion to boost the South Asian country's plummeting foreign currency reserves, two sources in Pakistan's finance ministry told Reuters, amid growing speculation of another International Monetary Fund bailout. The latest loan highlights Islamabad's growing dependence on Chinese loans to buffer its foreign currency reserves, which plunged to $9.66 billion last week from $16.4 billion in May 2017.
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Monday, July 2, 2018
China lends $1 billion to Pakistan to boost plummeting FX reserves - sources
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