KARACHI: A senior Chinese diplomat this week said Beijing had never pressured Islamabad to repay loans and had recently rolled over $2 billion in debt as the payment date neared, adding that China would help Pakistan overcome its foreign debt challenges.
International financial institutions and Chinas rivals like the US have raised concerns that the large-scale borrowing required for massive energy and infrastructure projects undertaken in Pakistan by Chinese authorities could potentially put the South Asian nation in a debt trap.
There are also concerns about the transparency and terms of the loans, including interest rates and repayment schedules, and their long-term impact on Pakistan.
Since 2013, CPEC, a flagship project under C…
Read the full article at: https://www.arabnews.com/node/2476751/pakistan