{"id":64104,"date":"2020-04-15T15:26:45","date_gmt":"2020-04-15T10:26:45","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=64104"},"modified":"2020-04-15T15:26:46","modified_gmt":"2020-04-15T10:26:46","slug":"pakistan-asks-china-debt-relief-assistance","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pakistan-asks-china-debt-relief-assistance.html","title":{"rendered":"Pakistan asks China for debt relief assistance"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Islamabad: Pakistan has requested for Chinese assistance in terms of obtaining an extension in the repayment schedule of its foreign debt \u2014 with one-half of this figure, amounting to USD 27.8 billion, set to mature within the coming three years, a news source reported.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/covid-19-relief-islamabad-based-art-gallery-auctions-pieces-to-generate-charity-funds.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"COVID-19 Relief: Islamabad-based art gallery auctions pieces to generate charity funds (opens in a new tab)\">COVID-19 Relief: Islamabad-based art gallery auctions pieces to generate charity funds<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As per the publication, Finance Adviser to Prime Minister (PM) Dr. Abdul Hafeez Shaikh held a meeting with the Chinese Ambassador to Pakistan Yao Jing and sought support from China in the unprecedented economic situation triggered by the COVID-19 pandemic.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/idwp-approves-development-projects-for-islamabad.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">IDWP approves development projects worth PKR 1.35 bn for Islamabad<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Out of the total USD 27.8 billion debt, Pakistan is supposed to pay USD 19 billion to the four major creditors of the country \u2014 China, the World Bank (WB), the Asian Development Bank (ADB), and the International Monetary Fund (IMF). Hafeez expressed his hope that the IMF, WB, and G-20 countries would extend debt relief to Pakistan along with other developing countries. Pakistan is expected to pay back USD 9.8 billion alone in the fiscal year 2020-21 (FY 2020-21).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/air-quality-index-of-islamabad-improves-amid-covid-19.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Air Quality Index of Islamabad improves amid COVID-19 lockdown<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Hafeez further discussed the overall economic situation of the country in the wake of <a href=\"https:\/\/www.zameen.com\/news\/covid-19-pak-mulls-inviting-donations-from-overseas.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"coronavirus breakout, (opens in a new tab)\">coronavirus breakout,<\/a> and the decline in remittances and exports due to the recession in major global economies. He said that different economies across the world had different strength levels to deal with the present situation, and that the weaker economies would be the worst affected by the economic slowdown.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Pakistan has requested for Chinese assistance in terms of obtaining an extension in the repayment schedule of its foreign debt \u2014 with one-half of this figure, amounting to USD 27.8 billion, set to mature within the coming three years, a news source reported. Read: COVID-19 Relief: Islamabad-based art gallery auctions pieces to generate charity funds As per the publication, Finance Adviser to Prime Minister (PM) Dr. Abdul Hafeez Shaikh held a meeting with the Chinese Ambassador to Pakistan Yao Jing and sought support from China in the unprecedented economic situation triggered by the COVID-19 pandemic. Read: IDWP approves development projects worth PKR 1.35 bn for Islamabad Out of the total USD 27.8 billion debt, Pakistan is supposed to pay USD 19 billion to the four major creditors of the country \u2014 China, the World Bank (WB), the Asian Development Bank (ADB), and the International Monetary Fund (IMF). Hafeez expressed his hope that the IMF, WB, and G-20 countries would extend debt relief to Pakistan along with other developing countries. Pakistan is expected to pay back USD 9.8 billion alone in the fiscal year 2020-21 (FY 2020-21). Read: Air Quality Index of Islamabad improves amid COVID-19 lockdown Hafeez further discussed&hellip;<\/p>\n","protected":false},"author":76,"featured_media":62137,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[20846,24075,26276,26275],"persona":[],"class_list":["post-64104","post","type-post","status-publish","format-standard","has-post-thumbnail","category-notices-announcements","tag-chinese-ambassador-to-pakistan-yao-jing","tag-covid-19-pandemic","tag-finance-adviser-to-prime-minister-pm-dr-abdul-hafeez-shaikh","tag-pakistan-asks-china-for-debt-relief-assistance","cat-15017-id"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pakistan asks China for debt relief assistance - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: Pakistan has requested for Chinese assistance in terms of obtaining an extension in the repayment schedule of its foreign debt\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/pakistan-asks-china-debt-relief-assistance.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pakistan asks China for debt relief assistance - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: Pakistan has requested for Chinese assistance in terms of obtaining an extension in the repayment schedule of its foreign debt\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/pakistan-asks-china-debt-relief-assistance.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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