• Saturday, December 15, 2018

China rejects Pakistan’s debt risk affects CPEC

Discussion in 'CPEC' started by Devil Soul, Jul 11, 2018.

  1. Devil Soul

    Devil Soul ELITE MEMBER

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    China rejects Pakistan’s debt risk affects CPEC


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    BEIJING: China has rejected the reports that Pakistan’s foreign exchanges reserves are in short and would affect China-Pakistan Economic Corridor, which is the flagship project of Belt and Road Initiative proposed by Chinese President Xi Jinping in 2013.

    Chinese Foreign Ministry spokesperson Hua Chunying said on Wednesday, The Western media reports that Pakistan's foreign exchange reserves are in short supply or affect the infrastructure projects of the China-Pakistan Economic Corridor, the report is seriously inaccurate.


    She was responding the question that some Western media quoted Pakistani officials as saying that the current debt risk of Pakistan has surged, and foreign exchange reserves are in short supply. It is hoped that China will continue to provide loans to the Pakistani side. Otherwise, the Pakistani side will once again seek assistance from the International Monetary Fund. If this happens, it may affect some infrastructure projects under the China-Pakistan Economic Corridor.

    Hua Chunying replied that the report was seriously inaccurate. A few days ago, Pakistan’s Finance Minister Dr. Shamshad Akhtar has issued a statement to clarify, stressing that the Pakistani side would continue to push forward the construction of the China-Pakistan Economic Corridor. The Chinese side has noted the shortage of foreign exchange reserves in Pakistan and believes that the Pakistani side would overcome temporary difficulties and maintain stable economic development.

    Hua Chunying said that in recent years, the China-Pakistan Economic Corridor has played a positive role in maintaining a high growth rate of the Pakistani economy and has received the full support of the Pakistani government and people.

    “We believe that the corridor will be steadily advanced according to the consensus reached between China and Pakistan and will not be interfered by other factors,” she added.

    According to some media reports, China has so far given an estimated loan of $5 billion to Pakistan to help temporarily stabilize reserve.

    For the last few months, Pakistan’s economy has come under pressure and foreign exchange reserves are declining due to flared current account deficit. Pakistan has received foreign loans more than $44 billion during the last five years.

    In May, Pakistan and China extended the currency swap agreement for three years, and the worth has been increased from 10 billion yuan to 20 billion yuan ($3.13 billion).
    https://www.thenews.com.pk/latest/340436-china-rejects-pakistans-debt-risk-affects-cpec
     
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  2. Beast

    Beast ELITE MEMBER

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    The Western are desperate. Seems the current trend of Western faking is news and reports.
     
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  3. Samlee

    Samlee SENIOR MEMBER

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    Pakistan's Credit Rating Has Been Downgraded B'Coz The West Wants Pakistan To Go To IMF
    At Th Cost Of CPEC And Pak Nuclear Program
     
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  4. MBT 3000

    MBT 3000 SENIOR MEMBER

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    nice propaganda needs to be busted
     
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  5. cloud4000

    cloud4000 SENIOR MEMBER

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    So Pakistan's economic incompetence is a western conspiracy? :crazy::hitwall::rofl:

    China will do what it has to do to safeguard its investments by financially supporting Pakistan.
     
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  6. MBT 3000

    MBT 3000 SENIOR MEMBER

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    no need for you to care about Pakistan indian
     
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  7. My-Analogous

    My-Analogous SENIOR MEMBER

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    CPEC will be our second blast after Chagai and this will be bigger then Chagai. After it become mature Pakistan don't have to look back others. China and Pakistan will finish this project and it is double sword and hard to break. Thank you China for supporting us
     
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  8. Retired Troll

    Retired Troll ELITE MEMBER

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    Oh my God

    China is looting Pakistan like Ghaznavi looted the air conditioned temples.
     
  9. LASER

    LASER FULL MEMBER

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    Hope you don't turn communist, in a similar fashion.
     
  10. Fledgingwings

    Fledgingwings SENIOR MEMBER

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    Whatever is on the move wont stop.
     
  11. Retired Troll

    Retired Troll ELITE MEMBER

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    Dont you have actual communist insurgency?

    How ignorant are you about India?

    Indian communists are actually very famous in the World.

    Dont you guys think before you Post stuff here?
     
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  12. Indus Pakistan

    Indus Pakistan PDF THINK TANK: CONSULTANT

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    Thank you to the Peoples Athiest Socialist Republic ... goes to show athiest can be better then fellow Muslims !

    @Cybernetics @Chinese-Dragon
     
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  13. LASER

    LASER FULL MEMBER

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    ermm, it looks like you didn't get me.

    Now you know how it is.

    And yes, India does have all kinds of communists (in few pockets).
     
  14. Retired Troll

    Retired Troll ELITE MEMBER

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    All hail the Ummah !!

    Strategic pockets?

    Dont tell uncle Sam. Trump will be disrespected.
     
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  15. LASER

    LASER FULL MEMBER

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    Aha they are. East to South.