Islamabad (HRNW) — Pakistan has emerged as China’s largest debtor, owing $22.5 billion, according to a newly released list of countries indebted to Beijing.
China’s report outlines the countries that have received substantial loans under various financial and development agreements. Pakistan tops the list, marking it as the biggest borrower of Chinese funds worldwide.
According to experts, a significant portion of these loans was acquired during periods of military-led governments, when corruption and lack of transparency were widespread. Analysts argue that these financial decisions have had long-lasting impacts on Pakistan’s economy, contributing to its current fiscal challenges.
Observers say the release of this list aims to promote transparency in global lending and highlight the economic vulnerabilities of heavily indebted nations.
The report has sparked renewed debate over Pakistan’s economic independence and its reliance on external borrowing — raising questions about the country’s long-term financial sustainability and the strategic implications of its deep economic ties with China.
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