China extends $2 billion loan to struggling Pakistan.

China has rolled over a $2 billion loan to Pakistan, which had matured last week, providing relief during the South Asian nation's acute balance of payment crisis. Pakistan's reserves have dipped to just four weeks' worth of imports and talks over an International Monetary Fund bailout tranche of $1.1 billion have hit a stalemate. One of the IMF's conditions for the release of the next tranche is assurance of external financing to fund Pakistan's balance of payments.