A six billion dollar aid package is on its way to Pakistan from Saudi Arabia the deal came as Pakistan’s prime minister Imran Khan attended a Saudi investment conference that’s the show that’s been boycotted by several other world leaders after the death of Saudi journalist Jamal khashoggi at the Saudi embassy in Istanbul while the Saudi package is sweet relief.
For Pakistan’s ailing economy the country’s Finance Ministry also told Reuters on Wednesday they’ll still be seeking more help from the IMF and that’s something newly minted leader Imran Khan said he would never do as Reuters Drazen your ditch.
Explains Imran Khan chastised the previous government for seeking an IMF bailout in 2013 and he vowed to never what he called beg for money from the IMF however he is inherited a troublesome economy with a local currency in freefall and growth slowing down he seems to have no.
Choice but to turn to the IMF however he’s also keen to seek support from what he calls friendly countries which in the past has meant China and Saudi Arabia the Saudi package will be made up of three billion dollars in support for Pakistan’s currency for one year and a loan worth another 3 billion over time Imran Khan is set to lead a delegation to China in November where it’s thought he will.
Seek more help from Beijing.