On 16 June 2023, Pakistan received USD 1 billion to support economy from which country?

Correct Answer: C. China

Pakistan’s central bank announced in a brief statement on Friday the country had received $1 billion from China amid the government’s efforts to shore up the official foreign exchange reserves by seeking external financing from friendly nations and international lenders. For several months, Pakistan had been struggling to stay economically afloat due to critically low forex reserves, rising inflation, and an acute balance of payment crisis. The country had been desperately trying to revive a stalled $6.5 billion bailout loan from the International Monetary Fund (IMF), but the program has remained in limbo despite various rounds of talks with the lender.