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Pakistan Paid China More Than 26 Billion Rupees Of Interest To Repay The Loan According To Express Tribune Report

Agency, Islamabad

Published by: Kuldeep Singh
Updated Sun, 31 Oct 2021 12:29 AM IST

Summary

The Pakistan newspaper has revealed this figure while publishing part of the report of an international development research laboratory based at William & Mary College in Virginia. According to a report in The Express Tribune, China’s Belt and Road Initiative (BRI) has caused billions of dollars in damages to Pakistan.

Due to the failure of the ruling governments in Pakistan, the country has to pay interest amounting to more than Rs 26 billion in 2020-21 to repay the maturing debt to China. According to a report in The Express Tribune, China’s Belt and Road Initiative (BRI) has caused billions of dollars in damages to Pakistan.

Chinese Belt and Road Initiative caused billions of dollars in damage to Pakistan
The Pakistan newspaper has revealed this figure while publishing part of the report of an international development research laboratory based at William & Mary College in Virginia. According to this report, China has used the buy-in of aid to establish its dominant position in the international development financial market.

The Express Tribune reports that the State Bank of Pakistan has released the annual financial statement on Friday. It revealed that the bank tapped $4.5 billion in trade finance under the Sino-Pak swap arrangement. The newspaper further reported that Pakistan is paying off foreign debt using the Chinese trade finance facility.

Expansion

Due to the failure of the ruling governments in Pakistan, the country has to pay interest amounting to more than Rs 26 billion in 2020-21 to repay the maturing debt to China. According to a report in The Express Tribune, China’s Belt and Road Initiative (BRI) has caused billions of dollars in damages to Pakistan.

Chinese Belt and Road Initiative caused billions of dollars in damage to Pakistan

The Pakistan newspaper has revealed this figure while publishing part of the report of an international development research laboratory based at William & Mary College in Virginia. According to this report, China has used the buy-in of aid to establish its dominant position in the international development financial market.

The Express Tribune reports that the State Bank of Pakistan has released the annual financial statement on Friday. It revealed that the bank tapped $4.5 billion in trade finance under the Sino-Pak swap arrangement. The newspaper further reported that Pakistan is paying off foreign debt using the Chinese trade finance facility.

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