‘Pak may turn to China for bailout asdeadlock persists over IMF programme’
   Date :17-May-2023

PAKISTAN has no other option but to ask its all-weather ally China to bail out its ailing economy to avert full fledged eruption of the Balance of Payment (BoP) crisis if the IMF does not revive the USD 6.5 billion programme, according to a media report on Tuesday. The policymakers are left with no other options but to explore all other ways to avert default as well as choking off the economy of over 220 million people, ‘The News International’ quoted sources as saying.
“Amid deepening political and economic crisis in the country, the IMF (International Monetary Fund) has adoptedthe policy of wait and see but this policy cannot be pursuedfor a longer period,” a top official source said on Monday. “Either the IMF will have tobe revived through completionof the 9th review or the programme will be scrapped. Wewill share no more data withthe IMF without completionof the ninth review,” the official said.