Give up Debt or Renegotiate Loans to Create a Fair Deal for Pak: From US to China
The United States on Wednesday called on China to take action to ease the burden of its predatory and unfair lending to Pakistan during the coronavirus crisis.
Alice G Wells, senior US State Department official for Central and South Asia, told reporters on a conference call whether it was the China-Pakistan Economic Corridor (CPEC) or any other assistance, ” United States supports investments that meet international standards, respect the environment and labor needs, and benefit the people of the region. ”
“I have listed the concerns of the United States government regarding the CPEC, the lack of transparency involved in the projects and the unfair rates of profit that are guaranteed to Chinese organizations,” she said in response to a question. on the corridor.
“I think in a time of crisis like Covid, when the world is reeling from the economic consequences of shutting down parts of the economy, it really behooves China to take action to ease the burden of these predatory, unsustainable and unfair loans cause Pakistan, ”she said.
Wells said the United States hopes China will either give up its debt or renegotiate the loans in order to create a fair and transparent deal for the Pakistani people.
“The United States joins other voices in the region in globally calling on China to provide transparent relief from the predatory lending countries are currently suffering from. The United States will use its partnership with international financial institutions like the World Bank and the IMF, to help ensure that countries emerge from this crisis on a stable footing and we urge others to join us in this effort. global, ”she said. Pakistan’s commitment to peace “Pakistan’s commitment to peace has grown as it has started to take steps to reduce terrorist groups and their funding, and because of that” we are seeing initial growth of our relations, especially in trade, ”she added. “The suspension of security assistance by President Donald Trump in 2018 marked a fundamental change in the country’s approach to Islamabad.
The South Asia Strategy made it clear that Pakistan must take decisive action against these groups, especially those who support the conflict in Afghanistan and threaten regional stability. Since then, the United States has seen Pakistan take constructive steps to encourage the Taliban to move the Afghan peace process forward, ”Wells said.