China provides $2.5 billion loan to Pakistan to boost its forex reserves

BEIJING: China has again rushed to bail out Pakistan by providing $2.5 billion in assistance to prop up the fast-depleting foreign exchange reserves of its cash-strapped all-weather ally, months after it rolled over a $4.5 billion loan due to be paid this year.
The announcement of the Chinese assistance came after France signed an agreement with Pakistan to suspend its loan worth $107 million under the G20 Debt Service Suspension Initiative (DSSI).
The agreement was signed by Ministry of…