The announcement was made by Finance Minsiter Ishaq Dar in a tweet on Friday.

“State Bank of Pakistan has received today in its account from Chinese Bank ICBC US $ 500 million,” he wrote.

The ICBC had earlier approved rollover of a $1.3 billion commercial loan and this is the second disbursement of $500 million.

Pakistan’s foreign exchange reserves have recently crossed $4bn and the government is expecting more help through the International Monetary Fund.

The Fund’s tranch has been delayed unexpectedly, with the government voicing its disappointment at the lender’s attitude.

The government has not only passed a mini budget but also assured the IMF that it will receive more funds from friendly countries to shore up its reserves. While reserves are climbing and the government insists default is now averted, the economy’s troubles are far from disappearing.