Terms & conditions for refinancing of RMB 15 billion deposit by Chinese banks (about US$ 2.3 billion) have been agreed: Miftah Ismail

ISLAMABAD, June 02 (SABAH): Federal Minister for Finance and Revenue Dr. Miftah Ismail Ahmed has said that there is good news as the terms and conditions for refinancing of RMB 15 billion deposit by Chinese banks (about US$ 2.3 billion) have been agreed.

In a statement issued on twitter on Thursday Miftah Ismail said that inflow is expected shortly after some routine approvals from both sides. This will help shore up our foreign exchange reserves.

“Good News: The terms and conditions for refinancing of RMB 15 billion deposit by Chinese banks (about US$ 2.3 billion) have been agreed. Inflow is expected shortly after some routine approvals from both sides. This will help shore up our foreign exchange reserves” Miftah Ismail tweeted.