Pakistan responds to IMF reported demand over CPEC

Pakistan responds to IMF reported demand over CPEC

ISLAMABAD - Pakistan has responded over the reported IMF demand of sharing CPEC debt record.

Pakistan is ready to share details of China-Pakistan Economic Corridor (CPEC) debt with the International Monetary Fund (IMF) and the decision to approach the Fund was taken after consultations with friendly countries, said Finance Minister Asad Umar on Saturday.

Umar, however, rejected the US State Department’s statement, suggesting that the debt accrued on CPEC projects was to blame for the country’s current economic crisis.

He was speaking at a press conference after he returned from Indonesia where he requested IMF’s Managing Director Christine Lagarde for a bailout package.

The IMF , he said, had asked for details of loans, including ones secured in relation to CPEC projects, for analysing the debt sustainability.

Pakistan, the minister said, would share “normal debt-related information about CPEC with the IMF”.

More from this category