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IMF asks Pakistan to share details of loans from China

ANI  |  Asia 

(IMF), who is currently considering a package for Pakistan, has asked the latter to share details of loans that it has received from

According to the Express Tribune, IMF, during a recent meeting, voiced concern about Beijing's financial assistance to

However, assured the IMF that there is no overlapping between the two programmes (IMF and CPEC), reported Dawn.

Minister has said that and the IMF will reach a full agreement in the coming days.

"During the last two days, we have, more or less, reached an understanding. In the next day or two, we hope to reach a full agreement and then we will share the details with you," the minister said after a meeting with Bank Group and senior officials of IMF.

In the past few years, Pakistan and have signed about half a dozen projects of worth USD 6.2 billion under CPEC. Besides this, it has also granted commercial loans worth USD 6.5 billion. has also deposited USD 2 billion in

In October last year, Pakistan had formally requested the IMF for yet another economic assistance package.

The South-Asian nation is going through an economic crisis after the decided to cut off the financial aid to the country in the view of terrorist attacks. The US views Pakistan as a safe haven for terrorists and insurgents, responsible for the 17-year-old war going on in neighbouring

Pentagon, in September, had reportedly cut off aid worth USD 300 million due to growing concerns regarding Islamabad's failure to tackle the militants.

In August, the US had also slashed security-oriented financial aid to Pakistan.

Pakistan, however, has sought help from several countries including and China as its has been in limbo for a long time. It secured loans up to USD 6 billion from on the sidelines of the Future Investment Initiative conference in in October.

has been seeking commercial loans of USD 2 billion from China has already refused to provide balance of payment (BoP) support to Pakistan.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, April 13 2019. 14:30 IST
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