With poverty and unemployment on the rise, Pakistan is dealing with economic turmoil.
Running out of reserves, the country faces the possibility of asking for another IMF bailout. Pakistan has turned to the IMF 12 times since the late 1980s.
U.S. Secretary of State, Mike Pompeo, was in Islamabad last week, in an attempt to reset the relations between the two countries. Washington has been critical of how Pakistan is dealing with terrorism and cut 300 million dollars in military aid.
Chinese Foreign Minister Wang Yi also visited Islamabad over the weekend to help promote bilateral ties. The new Pakistani government wants to renegotiate parts of the China Pakistan Economic Corridor, claiming it has led to a bigger trade deficit for the country.
- Shuja Nawaz is a distinguished fellow at the Atlantic Council.
- Mustafa Sayed is the executive director of the Pakistan-China Institute.
- Zhao Hai is an assistant research fellow at the Chinese Academy of Social Sciences.
- Jonah Blank is a senior political scientist at the RAND Corporation.
— China Xinhua News (@XHNews) September 12, 2018
US military confirms $300m cut in aid to Pakistan https://t.co/BbbcSz7cO3
— The Guardian (@guardian) September 2, 2018