Facing a $23 billion external financing gap, Pakistan plans to roll over around $12 billion in debt from key allies like China, Saudi Arabia, and the UAE in the 2024-25 fiscal year. The country aims to achieve budget targets before an anticipated IMF team visit. Negotiations for a new loan program with the IMF are expected in mid-May. Remittances remain crucial, with the country receiving $2.8 billion in April 2024. Pakistan is also engaging with China to revive hydropower projects as part of the second phase of the China-Pakistan Economic Corridor (CPEC).
Pakistan Seeks Debt Rollover Amid External Financing Gap
![](https://affairsace-media.s3.ap-south-1.amazonaws.com/2024/05/11090744/AFP_33QY7KU-860x484.jpg)