BEIJING: China has urged commercial creditors and the multilateral financial institutions to help Pakistan in its efforts for economic stability.

During a media briefing in Beijing, Chinese Foreign Ministry Spokesperson Mao Ning called for concerted efforts of all financial institutions to play a constructive role in the economic and social development of Pakistan.

She said China and Pakistan are all-weather strategic cooperation partners and the two sides have supported each other.

The Spokesperson said China always carries out economic and financial cooperation with Pakistan and helps Pakistan to achieve steady economic growth, improve its livelihood and achieve independence development.

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On the other hand, Finance Minister Ishaq Dar has dismissed the malicious rumours about country’s possible default.

In a series of tweets on Thursday, he said these rumours are not only completely false but also belie the facts.

The Finance Minister said SBP forex reserves have been increasing and are almost one billion dollars higher than four weeks ago despite making all external due payments on time.

He said foreign commercial banks have started extending facilities to Pakistan.

Ishaq Dar said our negotiations with IMF are about to conclude and we expect to sign Staff Level Agreement with IMF by next week.

The Minister said all economic indicators are slowly moving in the right direction.