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Politics

Pakistan bets on a Chinese development project, but debt looms

International lenders and ratings agencies fret over growing financial burden

Soldiers and police stand guard as a Chinese truck convoy enters a town in the western Pakistani province of Baluchistan, home to the port of Gwadar. (Courtesy CRS Public Relations)

ISLAMABAD Two international lending institutions and Pakistan's central bank have raised concerns about the debt burden of a huge China-led infrastructure program on the country's improving but still-fragile finances.

Surging Chinese imports for the initiative, known as the China-Pakistan Economic Corridor program, have complicated Pakistan's balance of payments problems during its second year of economic recovery following a decade of conflict with Taliban insurgents and their al-Qaida allies.

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