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International relations

China's disappointing aid offer dashes Pakistan's hope of debt rescue

Loans Beijing promised fell short of what Islamabad needs to build up reserves

Pakistani Prime Minister Imran Khan visited Beijing in November to request financial help.   © Reuters

QUETTA, Pakistan -- Disappointment is spreading in Pakistan over an unexpectedly small amount of financial help from China, as Islamabad stares at a mounting balance of payments crisis.

Beijing recently agreed to provide $2.5 billion in loans to Pakistan. Local media had previously reported that Islamabad was hoping to receive $6 billion in financial assistance from China to help boost its foreign exchange reserves.

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