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How much debt does Pakistan have to China?
Islamabad: Bearing the cost of failure of the ruling governments in Pakistan, the country has had to pay over ₹ 26 billion in interest cost to China to repay a maturing debt in the fiscal year 2020-21, reported local media.
How much China is investing in CPEC?
Originally valued at $47 billion, the value of CPEC projects is worth $62 billion as of 2020. CPEC is intended to rapidly upgrade Pakistan’s required infrastructure and strengthen its economy by the construction of modern transportation networks, numerous energy projects, and special economic zones.
How much money has been released to Pakistan in IMF bailout?
As part of the agreement, $1 billion has been released to Pakistan. This is the 13th IMF bailout for Pakistan, with the Fund looking toward the correction of “structural imbalances” in the country.
How much external debt does Pakistan owe to China?
The IMF has further asked Pakistan to pay $37.359 billion in external debt within the duration of the IMF bailout deal. Islamabad owes $14.682 billion of this figure to Beijing, largely due to the China-Pakistan Economic Corridor (CPEC).
Is IMF trying to solve Pakistan’s Economic problems or not?
The IMF isn’t trying to solve Pakistan’s problems at all, the package has zero reforms – be it power, budget deficit, or trade deficit. After all, the IMF is not a purely economic institute, it’s a political institute as well,” Saleem added.
Did IMF enforce the appointments of Reza Baqir and Abdul Hafeez Shaikh?
Multiple interviews with officials in the Finance Ministry reveal that the appointments of former IMF mission chief Reza Baqir as the governor of the State Bank of Pakistan and former Finance Minister Abdul Hafeez Shaikh as the prime minister’s adviser on finance were enforced by the IMF in the lead up to the bailout agreement.