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'98% China's development funding to Pak is less-than-generous loans'
Credit: IndiaTimes- Published on November 7, 2023
As much as 98 per cent of China's development funding for its all-weather ally Pakistan came in the form of "less-than-generous loans," with only two per cent coming in the form of grants between 2000 and 2021, according to a research report. The China-Pakistan Economic Corridor (CPEC), a global infrastructure and...
Video credit: Oneindia
Published on November 7, 2023 - 02:30
Twist in China-Pakistan Friendship | Report: 98% of Chinese Loan to Pakistan Not Out of Generosity
A recent report reveals that 98% of China's funding to Pakistan consists of loans, not grants. The outstanding debt amounts to $67.22 billion, 19.6% of Pakistan's GDP, higher than reported. China has invested in energy, budget support, and transportation sectors. This situation poses a dilemma for Pakistan: either repay the substantial debt or risk falling into a debt trap, similar to Sri Lanka's experience with vital infrastructure forfeiture. The choice ahead is crucial for Pakistan's economic future..
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