ISLAMABAD: US Secretary of State Antony Blinken on Tuesday urged Pakistanto seek debt relief and restructuring from China, its single-largestcreditor after the country has seen widespread flood-induced devastation.
At least 1,600 people have lost their lives while the estimated cost offlood damages and losses stands at a staggering $28 billion with nearly athird of the country still submerged by the deluge.
Pakistan has made similar appeals for “debt swaps for climate action” toother countries.
“I also urged our colleagues to engage China on some of the importantissues of debt relief and restructure so that Pakistan can more quicklyrecover from the floods,” Blinken told Foreign Minister Bilawal BhuttoZardari in Washington, according to a state department readout of themeeting.
The two officials also discussed the US flood relief, counter-terrorismcooperation and Pakistan’s relations with India.
Read Top Stories
Pakistan has to repay around $1.1 billion to the Paris Club countries.Overall Pakistan owes $10 billion to rich countries that include Japan,France, Germany, the US and others.
The country has to pay $16 billion dollars to the non-Paris Club countries.Out of that Pakistan owes $14.6 billion alone to China.
