China's President Xi Jinping met Pakistani Prime Minister Shehbaz Sharif in Beijing on Friday, Chinese state media reported, days before Pakistan presents its
China ’s President Xi Jinping met Pakistan i Prime Minister Shehbaz Sharif in Beijing on Friday, Chinese state media reported, days before Pakistan presents its annual budget and applies for a new International Monetary Fund loan.
“China will, as always, firmly support Pakistan and safeguard its national sovereignty and territorial integrity,” Xi told Sharif, adding that the two countries’ “all-weather strategic partnership… had broad development prospects.”Pakistan is in the middle of aSharif’s government is expected to seek at least $6 billion under a new IMF programme after it presents its annual budget on June 12.
Pakistan owes China almost 13% of its total debt, which was taken on to pay for infrastructure projects over the years and other types of spending. Chinese firms have also invested a further $14 billion in Pakistan since a new economic corridor connecting their countries was announced in the summer of 2013 as part of Chinese President Xi Jinping’s flagship Belt and Road Initiative, data from the American Enterprise Institute think tank shows.
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