Connectivity & Partnership

China backs Pakistan's request for IMF assistance

China has endorsed Pakistan’s request to the IMF for a bailout package, but cautioned that it should not affect economic cooperation between Islamabad and Beijing.

Oct 17, 2018
China has endorsed Pakistan’s request to the IMF for a bailout package, but cautioned that it should not affect economic cooperation between Islamabad and Beijing.
 
“As a member of the IMF, China supports the organisation in making an objective evaluation of Pakistan based on professionalism and earnestly helping it properly address the current difficulty,” Chinese foreign ministry spokesperson Lu Kang said at his press briefing in Beijing. His remarks were shared with the Pakistani media by the Chinese Embassy in Islamabad.
 
Pakistan had last week formally applied for IMF assistance to deal with its impending balance of payments crisis. Prime Minister Imran Khan has said the country could need around $12 billion to deal with the problem.
 
A team of IMF officials is scheduled to visit Islamabad on Nov 7 for talks on the size of the loan facility that Pakistan would be requiring. IMF Managing Director Christine Lagarde has said the lender would need to determine the debt sustainability of Pakistan by having “a complete understanding and absolute transparency about the nature, size and terms” of its debt.

Leave a Reply

Your email address will not be published. Required fields are marked *

Cyclonic storm Gaja batters South India

A severe cyclonic storm, Gaja, battered the coast of the southern Indian state Tamil Nadu on Friday, leaving at least 15 people dead and causing widespread destruction.

Read more...

Japan seeks to boost connectivity with India's Northeast

Japanese Ambassador Kenji Hiramatsu has said his country is serious about boosting connectivity in India's north-eastern states by building roads and bridges.

Read more...
Tweets about SAMonitor
SAM Facebook
SiteLock