Aug
16
Pakistan Should Beware an Easy Chinese Bailout
ByBeijing’s debt forgiveness may come with strings attached.
As former cricket star Imran Khan prepares to take his oath as Pakistan’s new prime minister Saturday, there’s one thing he must be clear about: Pakistan may be China’s friend at the moment, but the relationship could quickly turn sour.
In the next month or so, Islamabad may have to take another bailout package from the International Monetary Fund — the country’s 13th. The State Bank of Pakistan now holds just over $10 billion in foreign exchange reserves, giving enough room to buy only two months’ worth of imports…
