Imf Loans: Cpec and Pilot Project

imf loans: The two countries are forging a community with a shared future in which China-Pakistan Economic Corridor CPEC will play a major role, according to Global Times China. The CPEC is a major pilot project of the China-proposed Belt and Road Initiative BRI . Yet the speed of construction of the CPEC has been slowing down recently for which there are three main reasons. Pakistan's first-ever mass rapid urban transit train took its first test run on Tuesday after the completion of the physical infrastructure of the project under the CPEC. Photo Xinhua China and Pakistan are all-weather strategic cooperative partners. First, Pakistan is hobbled by a high fiscal and current account deficit, a large foreign debt and a resulting heavy debt repayment burden. IMF loans come with conditions and Pakistan will not be able to provide a large budget for the CPEC project while meeting these conditions. Its ability to provide support funds for CPEC has declined, and there is large financial pressure to expand infrastructure construction. (news.financializer.com). As reported in the news.