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The national debt of Pakistan (Urdu: قومی قرضہ جاتِ پاکستان), or simply Pakistani debt, is the total public debt, [1] or unpaid borrowed funds carried by the Government of Pakistan, which includes measurement as the face value of the currently outstanding treasury bills (T-bills) that have been issued by the federal government.
The countries, which share a border, have been longtime allies, and rollovers or disbursements on loans from China have helped Pakistan meet its external financing needs in the past.
Experts have estimated that Pakistan would require nearly 40 years to pay back its debt to China. [155] A number of scholars have said that the CPEC "subordinates Pakistan's interests to China's", and the CPEC and Pakistan's growing economic dependence on China could become a threat to Pakistan's sovereignty.
China lent Pakistan further 700 million dollars to shore up Forex reserves. [49] Pakistan's Consumer price index (CPI) further jumped to 31.5%, the highest annual rate in 50 years. [50] Also Fitch downgrades Pak's sovereign credit rating from CCC+ to CCC-. The New York-based ratings agency warned that a default could be a "real possibility". [51]
China is willing to strengthen co-operation and promote solidarity with Pakistan but has urged it to guarantee the safety of Chinese organisations and personnel working there, China's foreign ...
2003 – Pakistan and China signed a $110 million contract for the construction of a housing project on Multan Road in Lahore. [103] 2006 – China and Pakistan sign a free trade agreement. 2007 – The Sino-Pakistani joint-ventured multirole fighter aircraft – the JF-17 Thunder (FC-1 Fierce Dragon) is formally rolled out.
Lan revealed that, as of the end of 2023, China had an enormous hidden debt balance of 14.3 trillion yuan ($1.99 trillion). Officials aim to slash that amount to 2.3 trillion yuan ($320 billion ...
The agreement was part of an overall tightening of association with China for Pakistan, which resulted in Pakistan's distancing from the United States. [ 11 ] [ 12 ] [ 13 ] After defining borders, the two countries also entered into agreements with respect to trade and air-travel, the latter of which was the first such international agreement ...