Struggling to repay, Pakistan to seek debt relief from China Belt and Road loan
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Struggling to repay, Pakistan to seek debt relief from China Belt and Road loanBy Faseeh Mangi, Bloomberg
Last Updated: Feb 10, 2021, 10:01 AM IST
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Synopsis
In informal talks, Pakistan and China have discussed easing terms on the repayment of debt on about a dozen power plants, according to a person with knowledge of the matter.
Reuters
An enormous build-out of Chinese-financed power plants in Pakistan, which was originally intended to solve its electricity shortages, has resulted in a surplus that Islamabad isn’t able to afford.