Pakistan has requested an additional loan of 10 billion yuan from China, which is equivalent to approximately USD 1.4 billion. This request was made by Finance Minister Muhammad Aurangzeb during a meeting with China's Vice Minister of Finance Liao Min at the IMF and World Bank annual meetings in Washington.
The Pakistani government is hoping to increase the limits of the currency swap agreement to 40 billion yuan, bringing the total facility to around USD 5.7 billion. It is worth noting that previous requests for increased debt limits have been turned down by Beijing.