<p>Pakistan's finance minister, Ishaq Dar, said on Friday that China had rolled over a $2 billion loan that matured last week, providing relief during the South Asian nation's acute balance of payment crisis.</p>.<p>Locking in a rollover had been critical for Pakistan, where reserves have dipped to just four weeks' worth of imports and talks over an IMF bailout tranche of $1.1 billion have hit a stalemate.</p>.<p>"I am happy to confirm that this had been rolled over on March 23," Dar told parliament, referring to the maturity date. He said all concerned documentation had been completed.</p>.<p>Neither the government in Beijing nor the Chinese central bank responded to requests for comment on the rollover.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/opinion/china-s-loan-to-pakistan-will-directly-impact-india-1200024.html" target="_blank">China’s loan to Pakistan will directly impact India</a></strong></p>.<p>Dar's comments were the first official announcement of the rollover after the loan matured. Dar did not give the new maturity date or other terms of the arrangement.</p>.<p>A top finance ministry official told Reuters on Wednesday that a formal confirmation of the refinancing would be made after the process was completed.</p>.<p>Islamabad has been negotiating with the IMF since early February for the release of $1.1 billion from a $6.5 billion bailout package agreed in 2019.</p>.<p>One of the IMF's conditions for the release of the tranche is assurance of external financing to fund Pakistan's balance of payments.</p>.<p>Longtime ally Beijing is the only help Islamabad has got so far, with refinancing of $1.8 billion credited last month to Pakistan's central bank.</p>
<p>Pakistan's finance minister, Ishaq Dar, said on Friday that China had rolled over a $2 billion loan that matured last week, providing relief during the South Asian nation's acute balance of payment crisis.</p>.<p>Locking in a rollover had been critical for Pakistan, where reserves have dipped to just four weeks' worth of imports and talks over an IMF bailout tranche of $1.1 billion have hit a stalemate.</p>.<p>"I am happy to confirm that this had been rolled over on March 23," Dar told parliament, referring to the maturity date. He said all concerned documentation had been completed.</p>.<p>Neither the government in Beijing nor the Chinese central bank responded to requests for comment on the rollover.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/opinion/china-s-loan-to-pakistan-will-directly-impact-india-1200024.html" target="_blank">China’s loan to Pakistan will directly impact India</a></strong></p>.<p>Dar's comments were the first official announcement of the rollover after the loan matured. Dar did not give the new maturity date or other terms of the arrangement.</p>.<p>A top finance ministry official told Reuters on Wednesday that a formal confirmation of the refinancing would be made after the process was completed.</p>.<p>Islamabad has been negotiating with the IMF since early February for the release of $1.1 billion from a $6.5 billion bailout package agreed in 2019.</p>.<p>One of the IMF's conditions for the release of the tranche is assurance of external financing to fund Pakistan's balance of payments.</p>.<p>Longtime ally Beijing is the only help Islamabad has got so far, with refinancing of $1.8 billion credited last month to Pakistan's central bank.</p>