Pakistan Crisis India: Why is Pakistan getting happy with the G-20 conference in India? Shahbaz who became a ‘beggar’ will cross the fleet! Understand – pakistan financial crisis india g20 summit might help pakistan restructure its external debt from china
[ad_1]
Pakistan is currently pleading with the IMF for a loan, but the global agency is refusing to give loans, giving the country’s habit of repeated begging. India’s neighboring countries Sri Lanka, Pakistan and Maldives are moaning with debt. In order to provide debt relief to these countries, India has raised the issue of loan restructuring in the meeting of the Finance Ministers of G-20 countries. India is currently the chairman of the G-20 and it is presenting a restructuring plan for the debt-ridden countries.
America vs China on Pakistan
The purpose of this proposal was to persuade the lending countries to reduce the debt. Where the Finance Ministers of G-20 have met in Bengaluru on February 25, the Foreign Ministers have met in Delhi on Thursday. Pakistan hopes that the meeting of finance and foreign ministers of 20 powerful countries of the world can open the way for it to get out of the crisis. Pakistan currently has a debt of around $100 billion. Out of this, more than 30 billion dollars loan is from China only. Whereas 10 percent of Pakistan’s debt is from western countries. Meanwhile, after India’s move, China has said that the world’s major economies should conduct a fair and comprehensive analysis to find out the global debt crisis.
Pakistan has just taken a loan from China again. It is estimated that even in the year 2022-23, the debt level of the Government of Pakistan may remain very high. Pakistan hopes that it can get relief from raising the issue of debt in the G-20. America has also warned Pakistan about China’s debt. Also said that he should ask China to restructure its debt. After this statement of America, now China has said that some western countries are responsible for the crisis in Pakistan. China’s gesture was towards America. Meanwhile, rating agencies have expressed apprehension that Pakistan may default.
[ad_2]
Source link
