Last Updated : May 19 2019 11:10PM     Screen Reader Access
News Highlights
Elections for 17th Lok Sabha conclude successfully            Around 62 % polling recorded in final phase of Lok Sabha polls            PM Modi congratulates Scott Morrison on his victory in elections            British PM promises new deal to save her Brexit agreement            Karolina Pliskova wins Italian Open; Men's title clash between Noval Djokovic & Rafael Nadal underway           

International News

Apr 08, 2019
8:32AM

Prevent IMF bailout to Pakistan to repay Chinese debt: Senior US Congressmen

NSD Logo
Three influential US lawmakers have urged the Trump administration to oppose the proposed multi-billion bailout package being sought by Pakistan from International Monetary Fund. They have argued that the bailout package could be used to repay the Chinese debt accumulated under the China-Pakistan Economic Corridor (CPEC). 

In a letter to US Treasury Secretary Steven Mnuchin and Secretary of State Mike Pompeo, the bipartisan group of three lawmakers - Ted Yoho, Ami Bera and George Holding - expressed their deep concern over the likely use of the IMF's bailout package. They said that China is investing 62 billion US dollars in Pakistan under the CPEC.  They also pointed out that the CPEC's debt repayment and profit repatriation terms are not transparent.

The letter said that the impact of Chinese predatory financing in Pakistan, as already seen in the case of the Hambantota port in Sri Lanka, cannot be ruled out. It also said out that under Chinese pressure, Sri Lanka handed over 1,500 acres of land around the port for a 99-year lease.

Noting that Pakistan's history with the IMF gives further cause for concern, the US lawmakers said having spent 22 of the past 30 years in a dozen different IMF bailout programs, Pakistan has failed to carry out necessary structural economic problems.
 

   Related News

PM’s Exclusive Interview to DD News

Live Twitter Feed

Listen News

Morning News 19 (May) Midday News 19 (May) News at Nine 19 (May) Hourly 19 (May) (2300hrs)
समाचार प्रभात 19 (May) दोपहर समाचार 19 (May) समाचार संध्या 19 (May) प्रति घंटा समाचार 19 (May) (2305hrs)
Khabarnama (Mor) 19 (May) Khabrein(Day) 19 (May) Khabrein(Eve) 19 (May)
Aaj Savere 18 (May) Parikrama 18 (May) Lok Ruchi Samachar 19 (May)

Listen Programs

Market Mantra 19 (May) Samayki 19 (May) Sports Scan 19 (May) Spotlight/News Analysis 19 (May)
    Public Speak

    Country wide 28 (Mar) Surkhiyon Mein 4 (Apr) Charcha Ka Vishai Ha 15 (May) Vaad-Samvaad 7 (May) Money Talk 7 (May) Current Affairs 22 (Mar)