<p>Cash-strapped Pakistan has received a rollover of an additional $600 million loan from its all-weather ally China to help shore up the country's foreign exchange reserves on the back of an IMF deal, Prime Minister Shehbaz Sharif said on Tuesday.</p>.<p>It is in addition to the over $5 billion in loans that Beijing has rolled over for Pakistan in the last three months, helping the debt-ridden nation avert a default as negotiations to secure the IMF bailout dragged on, the <em>Dawn</em> newspaper reported.</p>.<p><strong>Also Read:<a href="https://www.deccanherald.com/international/world-news-politics/pakistan-receives-12-billion-first-tranche-from-imf-bailout-1236616.html"> Pakistan receives $1.2 billion first tranche from IMF bailout</a></strong></p>.<p>Pakistan secured a last-gasp $3 billion bailout from the International Monetary Fund on June 30, which later disbursed an initial upfront instalment of about $1.2 billion.</p>.<p>Sharif said the Exim Bank of China has provided the rollover, increasing the country’s foreign exchange reserves by $600 million.</p>.<p>“Our foreign exchange reserves are increasing but we want to do it not through loans but generating our income,” he said at an event here.</p>.<p>Apart from the IMF bailout and the Chinese loan, a $2 billion of financial support from Saudi Arabia and $1 billion from the UAE after the IMF pact has helped steady Pakistan's economy, the report said, quoting Finance Minister Ishaq Dar.</p>.<p>The State Bank of Pakistan said the current account recorded a surplus of $334 million in June.</p>
<p>Cash-strapped Pakistan has received a rollover of an additional $600 million loan from its all-weather ally China to help shore up the country's foreign exchange reserves on the back of an IMF deal, Prime Minister Shehbaz Sharif said on Tuesday.</p>.<p>It is in addition to the over $5 billion in loans that Beijing has rolled over for Pakistan in the last three months, helping the debt-ridden nation avert a default as negotiations to secure the IMF bailout dragged on, the <em>Dawn</em> newspaper reported.</p>.<p><strong>Also Read:<a href="https://www.deccanherald.com/international/world-news-politics/pakistan-receives-12-billion-first-tranche-from-imf-bailout-1236616.html"> Pakistan receives $1.2 billion first tranche from IMF bailout</a></strong></p>.<p>Pakistan secured a last-gasp $3 billion bailout from the International Monetary Fund on June 30, which later disbursed an initial upfront instalment of about $1.2 billion.</p>.<p>Sharif said the Exim Bank of China has provided the rollover, increasing the country’s foreign exchange reserves by $600 million.</p>.<p>“Our foreign exchange reserves are increasing but we want to do it not through loans but generating our income,” he said at an event here.</p>.<p>Apart from the IMF bailout and the Chinese loan, a $2 billion of financial support from Saudi Arabia and $1 billion from the UAE after the IMF pact has helped steady Pakistan's economy, the report said, quoting Finance Minister Ishaq Dar.</p>.<p>The State Bank of Pakistan said the current account recorded a surplus of $334 million in June.</p>