However, the measures are proving to be insufficient for the South Asian economy as reserves have fallen to $10 billion, and an IMF bailout seems imminent. Pompeo warns against IMF bailout that pays off Chinese lendersThe IMF also distanced itself from Pompeo’s statement and said that it remained committed to helping Pakistan. “The IMF remains committed to helping Pakistan and its people,” said Teresa Daban Sanchez, the IMF resident representative to Pakistan, while responding to Pompeo’s statement. She also said that the IMF is closely engaged with Pakistan through Post-Program Monitoring (PPM) and regular Article IV consultations. Pakistan needs IMF support, Mulk warnedIn 2014, Pakistan became China’s partner in the BRI and signed $46 billion worth of deals under the CPEC framework.

Source: The Express Tribune August 01, 2018 03:42 UTC