Finance Minister Ishaq Dar applauded the Ministry of Foreign Affairs of the People's Republic of China’s response to the western media who raised a question regarding China’s loans awarded to Pakistan. Pakistan is experiencing economic testing times and China has extended its financial support.

Bloomberg asked Mao Ning, spokesperson of the Ministry of Foreign Affairs, China, at the Regular Press Conference on March 2, “Both Moody’s and Fitch say Pakistan has $7 billion of debt due by June, including those from China. So will the loans be rolled over?”

The diplomat responded, “To give you our principled position, China and Pakistan are all-weather strategic and cooperative partners and iron brothers. The two sides have always shared weal and woe together and supported each other. 

China has been in close economic and financial cooperation with Pakistan and supported its efforts to maintain economic stability, improve lives and achieve self-generated development.”  She noted, “I need to point out that the radical financial and monetary policies of a certain developed country and their serious spillover effects are the primary cause of the financial difficulties experienced by Pakistan and many other developing countries. 

The Western-dominated commercial creditors and multilateral financial institutions account for the lion’s share of developing countries’ debt.  China calls on concerted efforts from all parties to play a constructive role in Pakistan’s economic and social stability efforts.”

Responding to this, Ishaq Dar according to Gwadar Pro, went on to social media to publicly acknowledge the response of China on the current economic situation of Pakistan. "China’s reply to Bloomberg on 2nd March 2023 reflects the depth of friendship between the two countries and beyond," said Ishaq Dar.

Credit : Independent News Pakistan-INP