Will be watching IMF closely regarding Pakistan bail out: Mike Pompeo

Author: Web Desk

WASHINGTON: The US Secretary of State, Mike Pompeo has said on Monday that any International Monetary Fund (IMF) bailout for Pakistan should not be granted if the funds are to be used to pay off China.

In an interview with CNBC, Pompeo said that the US government looks forward to working with the new Pakistan government under the premiership of Imran Khan, however, an IMF bail-out which is used to pay off Chinese loans doesn’t make any sense.

He further asserted that the US government “will be watching” IMF closely. The Financial Times reported on 30th July that senior Pakistani policy makers were drafting a plan to seek an IMF bail out of $12 billion, however an IMF official confirmed that they not received a fund request from Pakistan as of yet.

Pakistan is currently struggling with a currency crisis and according to more financial experts a IMF bail out, which will be the second in 5 years, is essential to bridge the deficit gap.

Share
Leave a Comment

Recent Posts

  • Business

Pakistan-Romania business delegation meets Presidential Advisor to boost trade

A delegation from the Pakistan Romania Business Council (PRBC) met with Legal Affairs Advisor to…

4 hours ago
  • Business

Pakistan joins fossil-fuel non-proliferation coalition to embrace a renewable energy future

Pakistan has joined a coalition of climate-vulnerable countries advocating for a global fossil-fuel non-proliferation treaty,…

4 hours ago
  • Business

High remittances flow crucial in financing deficit, debt repayments

The Federation of Pakistan Chambers of Commerce and Industry’s (FPCCI) Businessmen Panel (BMP) has said…

4 hours ago
  • Business

Small industry needs govt special focus to generate employment: APBF

The All Pakistan Business Forum (APBF) has said that the value-added small industry should be…

4 hours ago
  • Business

PITB team visits SCCI

A team of Punjab Information Technology Board (PITB) visited Business Facilitation Centre (BFC), and Sialkot…

4 hours ago
  • Business

China, Pakistan share latest non-wood forestry findings

Chinese and Pakistani academic achievements in resistant rootstocks for economic forests and grafted and fodder…

4 hours ago