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of <h1>Pakistan Repays USD 1 Billion Loan to ICBC, Reserves Drop to Six-Month Low; Negotiating Loan Refinancing</h1> Pakistan has repaid a USD 1 billion loan to the Industrial and Commercial Bank of China (ICBC), temporarily reducing its foreign exchange reserves to USD 10.6 billion, the lowest in six months. The loan, originally provided at a 7.5% interest rate, was repaid in two tranches this month. Another USD 300 million loan from ICBC is due in April. Pakistan is negotiating to refinance these loans and remains reliant on Chinese financial support, with several other Chinese loans maturing soon. The Finance Ministry is hopeful for refinancing, crucial to maintaining reserve levels.
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