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U.S.' Pompeo warns against IMF bailout for Pakistan that aids China

U.S.' Pompeo warns against IMF bailout for Pakistan that aids China

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 new 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.

"Make no mistake. We will be watching what the IMF does," Pompeo said. "There's no rationale for IMF tax dollars, and associated with that American dollars that are part of the IMF funding, for those to go to bail out Chinese bondholders or China itself," Pompeo said.

(Reporting by David Brunnstrom and David Lawder)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Jul 31, 2018 04:05 AM

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