News Snapshot:
China Jun 13 , 2020 Adnan Aamir Journalist In mid-April, Pakistan requested debt relief from China on Belt and Road Initiative (BRI) loans due to the economic crisis driven by COVID-19. Pakistan asked for debt relief specifically for power projects in the China-Pakistan Economic Corridor (CPEC), the flagship project of BRI— asking to ease debt obligations on $30 billion loans. If China agrees to this request, then Pakistan can expect an annual saving of around $500 million in annual cash flows. Following Pakistan’s lead, several other BRI host countries made similar debt relief requests to China. Due to the COVID-19...
