ISLAMABAD – China Pakistan Economic Corridor project is no hidden secretand Pakistan is ready to share details with the International Monetary Fund.

Pakistan is ready to share details of the debt related to theChina-Pakistan Economic Corridor (CPEC) with the IMF.

Finance Minister Asad Umar has said while rejecting the US’ view thatChina-funded projects were to blame for the cash-strapped country’s currenteconomic woes.

Speaking to the media here on his return from Indonesia where he requestedInternational Monetary Fund’s Managing Director Christine Lagarde for abailout package for Pakistan, Umar said the decision to approach the globallender was taken after consultations with friendly countries.

The IMF team, Umar said, was scheduled to arrive in Pakistan on November 7to negotiate the programme, likely to span over a three-year period. Hesaid Pakistan’s current year debt repayments were about USD 9 billion butobviously it would not entirely be available from the IMF.

Lagarde has made it clear that the IMF would require absolute transparencyon Pakistan’s debts, including those owned by China under the USD 50billion CPEC.

Umar, however, rejected the US State Department’s statement, suggestingthat the debt accrued on the CPEC projects was to blame for Pakistan’scurrent economic crisis.

The US Friday said that the huge Chinese debt was responsible for theeconomic challenges in Pakistan, adding that it will review Islamabad’sbailout plea to the IMF from all angles, including the country’s debtposition.