After Saudi Arabia, UAE and Qatar, Pakistan has once again returned to China for economic rescue
LAHORE: After Saudi Arabia, the UAE and Qatar, Pakistan has once again returned to China for economic rescue as the neigbouring country has handed over another $2.5 billion loan to our government. Since the beginning of the incumbent government’s tenure, China has already twice provided monetary assistance to Pakistan. What’s important to note is that the money has been given as a loan and that Pakistan will have to pay it back.
The short-term impact of this assistance will be nullified once the government starts with the repayments. Given the spiral of the economic crisis that the government is stuck with, the impact of these measures is likely to be shorter than expected.
Shahzad Ahmad
Published in The Express Tribune, February 3rd, 2019.
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