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| India-Pakistan |
| Pakistan seeks bailout from China and Saudis, rather than the IMF |
| 2018-04-06 |
| [Atimes] Officials have sought financial help from Beijing and Riyadh instead of the International Monetary Fund to manage the country's grim economic position. Pakistan plans to seek financial assistance from China and Saudi Arabia to get out of the grave financial crisis it faces to bridge the country’s external account deficit ahead of budgetary proposals for the 2018-19 fiscal year. A well-placed source in the Ministry of Finance told Asia Times that instead of approaching the International Monetary Funds (IMF) for a bailout, officials have proposed that the government ask wealthy friends such as China and Saudi Arabia to help Pakistan overcome its dire economic situation. Prime Minister’s Adviser on Finance Miftah Ismail confirmed last week that the government contacted friendly countries for assistance to get the economy back on track at a time when preparations are already underway for budget proposals for the next fiscal year. |
| Posted by:3dc |