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IMF will not give funds to Pakistan to pay Chinese debt

IMF will not give funds to Pakistan to pay Chinese debt

IMF will not give funds to Pakistan to pay Chinese debt

IMF will not give funds to Pakistan to pay Chinese debt
In his interview, Pompio said that America is determined to work closely with the Prime Minister of Pakistan Imran Khan.

Islamabad –
US Secretary of State Mike Pompou said that the international financial institutions (IMF) do not give any bailout package to Pakistan’s new government, whose funding should be used to pay China’s chances.

According to the British news agency, Reuters, Pompio said in an interview with the US Broadcasting ‘CNBC’ on Monday.

In his interview, Pompio said that America is determined to work closely with the Prime Minister of Pakistan Imran Khan.

But with this, he said that there is no justification for such a bailout for Pakistan to pay for the loan given to Pakistan.

The US Foreign Minister said, “Do not make such an error. We will see what IFF will do.”

“There is no clearance that IMF’s tax dollars and US dollars associated with them are part of the IMF funding, China’s bonds holders or China’s own work come,” he added.

One of the historians ‘Financial Times’ claimed in a report on Sunday that the high officials of Pakistan’s Finance Ministry to get $ 12 billion a bailout package from the IMF for the expected prime minister Imran Khan’s government. Are planning

The IFF spokesperson says he has not yet received any petition from Pakistan, and there has been no dialogue with Pakistani officials of the IMF administration.

Economics say Pakistan crisis will be a big economic challenge for the new government, regarding the reduction in its currency value.

Some analysts and entrepreneurs are concerned that Pakistan will need another IMF bullout package to overcome its current account deficit, which has been imposed by IMF in five years. The second bull will be.

Pakistan has already secured a $ 5 billion loan from China and its banks for major projects of construction of the country’s ongoing infrastructure and it has more than one billion from China to maintain its foreign exchange reserves. Dollar wants to get a loan

High officials of the Trump Administration, including the Finance Minister of America Steven Munich, criticized the Chinese-funded loans for projects related to developing countries, saying that due to this, debt burden on those countries I grew up.

However, China has exported a large number of machinery and other goods from Pakistan, China, and China’s account deficit, due to the China Economic Economic (CC) project worth $ 57 billion.

According to the figures of IMF, Pakistan has garnered 14 times from international financial institutions since 1980, which includes a $ 6 billion worth of $ 70 million approved in 2013, which is a three-year period Was given to Pakistan during the period.

Author Since: Jul 27, 2018

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