China rejects Pakistan’s debt risk affects CPEC

Observer Report

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.

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