Pak in 'Dragon debt trap'? Shehbaz govt bows down to Xi despite IMF's warnings | Details

Pak caves in to China's demand for a revolving bank account. The decision was taken by the Economic Coordination Committee (ECC) of Shehbaz's cabinet. Pak took 8 years to implement the important clause, and the delay not only caused friction in its ties with China but also led to over $1 billion being stuck in arrears for Chinese companies. However, the move is set to irritate the International Monetary Fund (IMF). The IMF has been pressing Pakistan against giving any preferential treatment to the Chinese companies at the insistence of its largest shareholder, the United States. Watch this report to learn more.