BEIJING: As cash-strapped Pakistan approached the IMF for a bailout agreeing to share the details of huge Chinese loans obtained for the CPEC, a wary China has said the global lender should “objectively and professionally” evaluate its investments and ensure that any financial package does not affect close ties between Beijing and Islamabad.
Reacting to the move by its all-weather ally Pakistan to approach the IMF for a bailout package, Chinese foreign ministry spokesman, Lu Kang said here that China wants an “objective and professional” evaluation of its loans to Pakistan by the IMF. The measures to be worked out by the IMF should not affect China-Pakistan relations, he said.
“As a member of the IMF, China supports the organization having cooperation with Pakistan in objectively and professionally evaluating the situation on the ground in Pakistan,” he said while answering questions on calls for scrutiny of Chinese loans by IMF and US officials.
“Also we support the IMF (helping Pakistan) in coping with the current difficulties. Their measures shall not affect normal bilateral cooperation between China and Pakistan,” he said.
He said the CPEC projects have been undertaken by the two governments under the principle of “consultation and contribution for shared benefits”.
The project and financing arrangements are made by the two sides on equal consultation, he said.
“In fact, judging from the debt structure already released by the Pakistani government their debt incurred from the CPEC accounts for low proportion. So, it is not the reason for Pakistan’s financial difficulties,” he said.
Lu also said “China would like to work with Pakistan to substantiate and expand the CPEC projects and help Pakistan to achieve development on its own strength”. PTI
ich cannot be repaid are avoided,” he said. PTI
