GPS News  
THE STANS
Pakistan PM to visit China, seeking funds as IMF bailout looms
by Staff Writers
Islamabad (AFP) Oct 25, 2018

Pakistan's Prime Minister Imran Khan will visit China next week, authorities said Thursday, as the former cricketer mounts a desperate search for funds to prop up the nation's dire finances.

The confirmation of Khan's first visit to China as premier comes days after Pakistan secured $6 billion dollars in funding from Saudi Arabia to help stave off a widening balance of payment crisis.

Khan said in a televised address Wednesday that he was working to nail down Saudi-style financing packages from two additional, unnamed countries to reduce the size of a potential loan from the International Monetary Fund.

The foreign affairs ministry said Khan would meet with Chinese President Xi Jinping and Premier Li Keqiang on the November 2-5 trip which will take in Beijing and and the commercial hub of Shanghai.

"The visit will provide an opportunity for the two countries to review the entire spectrum of bilateral relations with special reference to CPEC," foreign ministry spokesman Muhammad Faisal told AFP, referring to the China-Pakistan Economic Corridor.

CPEC is a multi-billion-dollar infrastructure project aimed at building energy and transport links connecting the western Chinese region of Xinjiang with the Arabian Sea via Pakistan.

However, given Pakistan's deteriorating finances, in recent months there have been concerns that portions of the ambitious agreement may have to be scaled down.

Analysts said Khan will be pushing for financial assistance from Beijing during the visit.

"Pakistan would certainly like China to play its role in supporting our balance of payments and this is going to be one major subject of discussions," said economist Salman Shah.

"China has been providing financial support to Pakistan in difficult times and this will not be something new if they come forward this time also."

Since taking power in August, Khan has sought loans from "friendly" countries like Saudi Arabia, vowed to recover funds stolen by corrupt officials, and embarked on a series of populist austerity drives to raise cash.

Pakistan has gone to the IMF repeatedly since the late 1980s.

The last time was in 2013, when Islamabad got a $6.6 billion loan to tackle a similar crisis.


Related Links
News From Across The Stans


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


THE STANS
Inside China's internment camps: tear gas, Tasers and textbooks
Beijing (AFP) Oct 24, 2018
On state television, the vocational education centre in China's far west looked like a modern school where happy students studied Mandarin, brushed up their job skills, and pursued hobbies such as sports and folk dance. But earlier this year, one of the local government departments in charge of such facilities in Xinjiang's Hotan prefecture made several purchases that had little to do with education: 2,768 police batons, 550 electric cattle prods, 1,367 pairs of handcuffs, and 2,792 cans of pepper s ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

THE STANS
A topical gel to protect farmers from lethal effects of pesticides

Summer drought may shrink supplies of French spuds

Judge slashes award but upholds verdict in Monsanto cancer trial

'Himalayan Viagra' under threat from climate change: researchers

THE STANS
Inexpensive chip-based device may transform spectrometry

Announcing the discovery of an atomic electronic simulator

Printed 3D supercapacitor electrode breaks records in lab tests

First proof of quantum computer advantage

THE STANS
Merging mathematical and physical models toward building a more perfect flying vehicle

Cathay Pacific hit by data leak affecting 9.4m passengers

Indonesia $200m in arrears on fighter project: S. Korea

Dandelion seeds reveal newly discovered form of natural flight

THE STANS
Court orders top VW shareholder to pay 'dieselgate' damages

Do or die? Study gives crash course in driverless ethics

BAE to invest $4M for greener propulsion systems for vehicles

German government moves to head off city diesel bans

THE STANS
China launches full-throated bid to boost confidence in stocks

US tariffs trigger WTO spat escalation

Khashoggi crisis shines light on Saudi ties to Silicon Valley

Japan PM heads to China looking for economic common ground

THE STANS
Saving the precious wood of Gabon's forests from illegal logging

Saving the precious wood of Gabon's forests from illegal logging

Salmon graveyard gives rise to forest in Alaska

Brazil's Amazon at risk if Bolsonaro wins presidency: ecologists

THE STANS
Earth observation data market to reach $2.4B

Researchers develop an operative complex scheme for short-range weather forecasts

Zooming in on Mexico's landscape

Government of Canada to invest $7.2M in exactEarth

THE STANS
Researchers discover directional and long-lived nanolight in a 2D material

Big discoveries about tiny particles

Precise control of multimetallic one-nanometer cluster formation achieved

Two quantum dots are better than one: Using one dot to sense changes in another









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.