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Cash-strapped Pakistan seeks help from China to pay off the debts

by On The Dot
December 22, 2020
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Cash-strapped Pakistan seeks help from China to pay off the debts

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New Delhi: Pakistan’s Imran Khan government has become so cash-strapped that it does not even have the money to pay off the debts of other countries. Pakistan is dependent on the help of its ‘Master’, China to repay its debt. However, it is also believed that Pakistan always supports China because of Chinese money. Pakistan recently took a $ 3 billion loan from Saudi Arabia, which it is repaying with emergency funding provided by China. Relations between Islamabad and Riyadh have been tense for a long time.

Islamabad has so far repaid a loan of two billion dollars out of the total debt. Earlier this year, Saudi Arabia insisted on repaying the debt from Pakistan. The relationship between the two countries has soured ever since Pakistan’s growing intimacy with countries like Turkey and Malaysia.

Tags: bankruptcash strappedChinadebtsPakistan
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