ISLAMABAD: International Monetary Fund Country Director reveals Pakistanexchanged all details of CPEC Projects borrowing and maturity terms withthe organisation.
The International Monetary Fund (IMF) said on Monday that it had fullaccess to borrowing and maturity terms of the China-Pakistan EconomicCorridor (CPEC) projects and its loans were manageable.
Addressing Senior Journalists’ Forum at the National Press Club, IMFresident representative in Islamabad Teresa Daban Sanchez counted issuesrelating to the Financial Action Task Force (FATF), provincial spendingbehaviours and insufficient parliamentary strength of the government as keyrisks to its $6 billion 39-month bailout programme.
She said Pakistan had shared full details of CPEC loans with the IMF,adding that CPEC was mostly private sector investment in energy andinfrastructure.
In reply to a question, the IMF official said energy projects had no doubthelped the country deal with acute shortages of power and this was a verypositive aspect.
She said the debt sustainability analysis showed that CPEC loans weremanageable, but the country’s overall debt situation was not sustainable.