China puts in efforts to rescue Pakistan from economic crisis

China puts in efforts to rescue Pakistan from economic crisis

Beijing: Chinese Foreign Ministry Spokesperson Mao Ning asked the international creditors and financial institutions to play a constructive role for Pakistan’s economic and social stability efforts.

The Chinese Foreign Ministry spokesperson said that the radical financial and monetary policies of a ‘certain developed country’ and their serious spillover effects are the primary cause of the financial difficulties experienced by Pakistan and many other developing countries.

Mao Ning expressed these words while responding to a question regarding Pakistan economic woes during weekly press briefing at the Foreign Ministry office in Beijing on Thursday.

She said China and Pakistan were all-weather strategic and cooperative partners and iron brothers, pointing out that the two sides had always shared weal and woe together and supported each other. A reporter had asked her that both Moody’s and Fitch had held that Pakistan had $7 billion of debt due by June this year, including those from China.

“So, will the loans be rolled over?,” asked the reporter to which she replied that she would refer the question to the competent Chinese authorities.. However she said China had been in close economic and financial cooperation with Pakistan and supported its efforts to maintain economic stability, improve lives and achieve self-generated developments. The Western-dominated commercial creditors and multilateral financial institutions account for the lion’s share of developing countries’ debt. China calls on concerted efforts from all parties to play a constructive role in Pakistan’s economic and social stability efforts.

To another question, the Chinese spokesperson said, “We have noted the report. Children are the future and our hope for a better world. Promoting and protecting their rights is an integral part of the international human rights cause,”.