Leah Millis/Reuters
- U.S. Secretary of State Mike Pompeo warned on Monday that any potential International Monetary Fund bailout for Pakistan's new government should not provide funds to pay off Chinese lenders.
- The Financial Times reported on Sunday that senior Pakistani finance officials were drawing up options for expected Pakistani Prime Minister Imran Khan to seek an IMF bailout of up to $12 billion.
- The $57 China-Pakistan Economic Corridor, a series of port and rail improvements associated with China's One Belt One Road infrastructure push, has led to massive imports of Chinese equipment and materials, swelling Pakistan's current account deficit.
WASHINGTON (Reuters) - U.S. Secretary of State Mike Pompeo warned on Monday that any potential International Monetary Fund bailout for Pakistan's new government should not provide funds to pay off Chinese lenders.
In an interview with CNBC television, Pompeo said the United States looked forward to engagement with the government of Pakistan's expected new prime minister, Imran Khan, but said there was "no rationale" for a bailout that pays off Chinese loans to Pakistan.
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