Wednesday, February 28, 2024

Sources: under pressure from an Amazon-led group, Senate’s China-focused bill left out consumer protections to make marketplaces authenticate 3rd-party sellers (Washington Post)

Washington Post:Sources: under pressure from an Amazon-led group, Senate’s China-focused bill left out consumer protections to make marketplaces authenticate 3rd-party sellersSenators excluded a measure intended to protect consumers from counterfeit and dangerous items sold online after aggressive Amazon lobbying.
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China rolls over $2bn car loan to Pakistan: Dar

Finance preacher Ishaq Dar claimed on Friday that China had actually surrendered a $2 billion car loan that matured recently, offering relief throughout the country’s acute equilibrium of payment dilemma.

Securing a rollover had actually been essential for Pakistan, where books have actually dipped to just 4 weeks’ worth of imports as well as talks over an IMF bailout tranche of $1.1 billion have actually hit a standoff.

“I more than happy to verify that this had actually been rolled over on March 23,” Dar told the Us senate, referring to the maturation day. He stated all concerned documents had actually been finished.

Neither the federal government in Beijing neither the Chinese central bank responded to ask for discuss the rollover.

Dar’s remarks were the first official announcement of the rollover after the finance matured. Dar did not give the new maturity date or other terms of the arrangement.

A top finance ministry official informed Reuters on Wednesday that an official confirmation of the refinancing would be made after the procedure was finished.

Islamabad has been working out with the IMF since early February for the release of $1.1 billion from a $6.5 billion bailout bundle agreed in 2019. Among the IMF’s conditions for the release of the tranche is assurance of external financing to money Pakistan’s equilibrium of payments.

Longtime ally Beijing is the only help Islamabad has actually obtained until now, with refinancing of $1.8 billion credited last month to Pakistan’s reserve bank.

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