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China lends $1 billion to Pakistan

BEIJING: China has lent Pakistan $1 billion to boost the South Asian country’s plummeting foreign currency reserves, two sources in Pakistan’s finance ministry told Reuters, amid growing speculation of another International Monetary Fund…

Embattled Air India seeks ‘urgent’ loan

MUMBAI: Air India has announced it is seeking an urgent multi-million-dollar loan to maintain day-to-day operations, highlighting the wretched financial predicament of the country's debt-stricken national carrier. In a statement posted…

IMF to launch new form of aid — with no money

WASHINGTON: The International Monetary Fund announced on Wednesday it will launch a new tool to support governments in financial trouble -- but one that involves no money -- formalizing a step it took last week for Greece. Instead of…