Pakistan seeks fresh loans from China
(WorldNews Business)

ISLAMABAD: Pakistan expects to obtain fresh Chinese loans worth $1-2 billion to help it avert a balance of payments crisis, government sources said, in another sign of Islamabad´s growing reliance on Beijing for financial support. Lending to Pakistan by China and its banks is on track to hit $5bn in the fiscal year ending in June, according to recent disclosures by officials and the finance ministry data reviewed by Reuters. The ramp up in China´s lending comes as the United States is cutting aid to Pakistan following a fracture in relations between the on-off allies. In February, Washington led efforts that saw Pakistan placed on a global terror financing watch list, drawing anger in...