China’s Call for Joint Efforts to Assist Pakistan’s Economic and Social Stability

Foreign Ministry Spokesperson Mao Ning’s r

Foreign Ministry Spokesperson Mao Ning’s Regular Press Conference on March 2, 2023

Bloomberg: Both Moody’s and Fitch say Pakistan has $7 billion of debt due by June, including those from China. So will the loans be rolled over? 

 

Mao Ning: I will refer you to the competent Chinese authorities for the specifics. 

To give you our principled position, China and Pakistan are all-weather strategic and cooperative partners and iron brothers. The two sides have always shared weal and woe together and supported each other. China has been in close economic and financial cooperation with Pakistan and supported its efforts to maintain economic stability, improve lives and achieve self-generated development. 


I need to point out that the radical financial and monetary policies of a certain developed country and their serious spillover effects are the primary cause of the financial difficulties experienced by Pakistan and many other developing countries. The Western-dominated commercial creditors and multilateral financial institutions account for the lion’s share of developing countries’ debt. China calls on concerted efforts from all parties to play a constructive role in Pakistan’s economic and social stability efforts.

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