{"id":10440,"date":"2022-09-03T14:47:59","date_gmt":"2022-09-03T14:47:59","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=10440"},"modified":"2022-09-03T14:47:59","modified_gmt":"2022-09-03T14:47:59","slug":"pakistan-owes-more-debt-to-china-than-to-imf-world-bank","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/pakistan-owes-more-debt-to-china-than-to-imf-world-bank\/","title":{"rendered":"Pakistan owes more debt to China than to IMF, World Bank"},"content":{"rendered":"<p>Pakistan owes more debt to China than to IMF, World Bank. Pakistan owes 30% of its foreign debt to China, the latest report from the<a href=\"https:\/\/www.imf.org\/en\/Home\"> International Monetary Fund<\/a> (IMF) said, which includes state-owned commercial banks.<\/p>\n<p>Bloomberg, citing the global money lender&#8217;s document, reported that the debt is now 3% up as compared to February&#8217;s statistics \u2014 when it was at 27%.<\/p>\n<p>After being revised upwards by $4.6 billion, Pakistan owes a debt of $30 billion to China, from $25.1 billion in February, the IMF report said.<\/p>\n<p>Chinese assistance to Pakistan is three times greater than IMF debt and exceeds both World Bank and Asian Development Bank funds combined, it said.<\/p>\n<p>The latest figures show that, unlike the World Bank-style concessionary-project financing, Beijing is now playing a role similar to the global money lender by providing funds during a balance of payments crisis.<\/p>\n<p><em><strong>Read more:\u00a0<a href=\"https:\/\/dailyausaf.com\/en\/business\/imf-releases-report-on-pakistan.html\">IMF releases report on Pakistan<\/a><\/strong><\/em><\/p>\n<p>Islamabad managed to secure a much-needed bailout package from the IMF this week when the Fund&#8217;s executive board approved the release of $1.1 billion to Pakistan \u2014 averting the threat of imminent default.<\/p>\n<p>For the ongoing fiscal year, the IMF report mentioned that official financing includes $7 billion as rollovers of existing and $4 billion in additional financing commitments, including from China, Qatar, Saudi Arabia, UAE, and IFIs \u2014 such as the World Bank, Asian Development Bank, and Islamic Development Bank.<\/p>\n<p>&#8220;Pakistan\u2019s external debt is low, predominantly held by the public sector and mainly sourced from concessional multilateral and bilateral sources, the central bank said in a presentation it made in July,&#8221; Bloomberg said.<\/p>\n<p>Islamabad&#8217;s foreign loans are a total of 36% of its total debt.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pakistan owes more debt to China than to IMF, World Bank. Pakistan owes 30% of its foreign debt to China, the latest report from the International Monetary Fund (IMF) said, which includes state-owned commercial banks. Bloomberg, citing the global money lender&#8217;s document, reported that the debt is now 3% up as compared to February&#8217;s statistics [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":10441,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,9,2],"tags":[470,1247,1268,160,138,97],"class_list":["post-10440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-latest-news","category-pakistan","tag-china","tag-international-monetary-fund","tag-world-bank","tag-imf","tag-pakistan","tag-qatar"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/10440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=10440"}],"version-history":[{"count":0,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/10440\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/10441"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=10440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=10440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=10440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}