IMF reveals Pakistan exchanged all details of CPEC Projects borrowing and maturity terms

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IMF reveals Pakistan exchanged all details of CPEC Projects borrowing and maturity terms

ISLAMABAD: International Monetary Fund Country Director reveals Pakistan exchanged all details of CPEC Projects borrowing and maturity terms with the organisation.

The International Monetary Fund (IMF) said on Monday that it had full access to borrowing and maturity terms of the China-Pakistan Economic Corridor (CPEC) projects and its loans were manageable.

Addressing Senior Journalists’ Forum at the National Press Club, IMF resident representative in Islamabad Teresa Daban Sanchez counted issues relating to the Financial Action Task Force (FATF), provincial spending behaviours and insufficient parliamentary strength of the government as key risks 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 and infrastructure.

In reply to a question, the IMF official said energy projects had no doubt helped the country deal with acute shortages of power and this was a very positive aspect.

She said the debt sustainability analysis showed that CPEC loans were manageable, but the country’s overall debt situation was not sustainable.