China pledged its support for Pakistan on Monday, promising to continue helping the country with its financial troubles.
Pakistan has been seeking financial support from China and Saudi Arabia, including rolling over loans. The country has had deals for around $35 billion against debt and liabilities for the current fiscal year.
The government of Pakistan is going to receive $9 billion (USD) from China and $4 billion (USD) from Saudi Arabia.
According to Dar, Xi Jinping linked Pakistan to China’s One Belt One Road (OBOR) project during his recent visit to Beijing and told the prime minister, (Don’t worry; we won’t let you down.)
The foreign minister from China said that the country has been helping Pakistan financially. They will continue to do it because they care about their neighbors and want them to be stable.
Zhao Hui said, (China has taken note of reports about the political turmoil in Pakistan after an attempt to kill former Prime Minister Imran Khan failed.) We express our condolences to Imran Khan and wish him a speedy recovery.
A volley of gunshots struck Ayaz Khan, 70, in the right leg when two gunmen fired a bullet at him and others traveling in a container truck. Shaheed Bhagat Singh Avenue was heading to the Wazirabad neighborhood in Pakistan’s Punjab province to protest the movement led by Chief Minister Aslam Shahbaz.
Pakistan owes $10.7 billion to the Paris Club, a group of representatives whose job is to find coordinated and sustainable solutions to debt problems.
According to the International Monetary Fund (IMF), Pakistan’s total bilateral debt outside the Paris Club currently stands at USD 27 billion, of which USD 23 billion is owed to China.
Newly elected Pakistani Prime Minister Shehbaz visited the Chinese capital of Beijing, and it only took two days for China to promise to provide close to $8 billion in loans.
Xi Jinping, the president of China, just won a third five-year term without any opposition. This happened shortly after the conclusion of China’s 20th National Congress, which Sharif visited and was one of the first foreign leaders to attend.
Xi, 69, was re-elected as the general secretary of the ruling Communist Party of China and is just the second leader to remain in power after a 10-year term. The only other person who’s done this is Mao Zedong, who founded the party.