Pak in crisis: China’s refusal to waive debt of Rs 22 thousand crore; Loan given under China-Pakistan corridor

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  • Pak In Trouble, 22 Thousand Crores. China’s Refusal To Waive Debt; Loan Given Under China Pak Corridor

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4 hours ago

Imran had promised in the elections that such a Pakistan would be created, which would not beg the world for debt.

Pakistan has been dealt a major blow by its closest friend China. China has refused to waive the debt of Pakistan, which is going through trouble and on the verge of bankruptcy. In fact, the Imran Khan government had requested China to waive the loan of $ 300 million (about 22 thousand crore rupees) given under the China-Pakistan Economic Corridor, which China refused.

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According to the report, Pakistan wanted China to forgive the debt given for the energy project made under CPEC and also restructuring it. But China has categorically refused this. Now the debt-burdened Pakistan is facing the danger of default.

22 lakh crore on Pakistan. Debt, 109% of GDP
Pakistan had a debt of about $ 29,400 million (about Rs 22 lakh crore) till December. This is 109% of his GDP. According to experts, by the end of 2023 this ratio could go up to 220%. Then 5 years of Imran government will also be completed. Imran had promised in the elections that he would create a Pakistan that would not beg the world for debt.

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