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Amidst massive protests over electricity prices, Pakistan seeks reprofiling of its international debt with China
Top Stories Tamfitronics HomeNewsWorldUpdated - August 04, 2024 at 10:48 AM.| IslamabadTop Stories Tamfitronics German News outlet DW quotes data saying that from 2022, Pakistan had $26.6 billion worth of Chinese debt, more than any other country in the worldPakistan has sought reprofiling of more than $27 billion in debt and liabilities with friendly nations -- China, Saudi Arabia, and the UAE -- to secure a 37-month International Monetary Fund (IMF) bailout package and ease energy sector foreign exchange outflows and consumer tariffs, according to a report in Dawn. Prime Minister Shehbaz Sharif said that he had written a letter to the Chinese government requesting debt reprofiling for Pakistan in an apparent bid to secure the International Monetary Fund's approval for a $7 billion economic bailout by next month."I have written a letter to China,...