Bloomberg: Pakistan to Seek Debt Relief From China Belt and Road Loan
Tue February, 2021, Age: 3 years
Pakistan is seeking to stagger debt payments to China as it struggles to pay for the construction of several power plants. China constructed the power plants in order to address Pakistan’s energy shortage, but the project has instead led to a power surplus that has increased financial stress for Islamabad. Pakistan has signed onto $11 billion worth of projects from the Belt and Road Initiative.