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Washington: Since the end of World War II, the International Monetary Fund and the United States have been the world’s lenders of last resort, each wielding broad influence over the global economy. Now a new heavyweight has emerged in providing emergency loans to debt-ridden countries and that is China, New York Times reported.New data shows that China is providing ever more emergency loans to
Colombo: After a protracted battle by India, the United States and Japan to get China to agree to restructure its massive loan of USD 7 bn to Sri Lanka, the International Monetary Fund (IMF) approved a USD 2.286 billion bailout for Sri Lanka on March 20.The Sri Lankan government under President Ranil Wickremesinghe endorsed on Saturday that Sri Lanka is no longer deemed bankrupt by the world,
Jinping during a meet with former Nepal Prime Minister K P Sharma OliKathmandu: China has been playing a long game to establish its hegemony in the South Asia region. Inflicted by the ‘Middle Kingdom’ complex, it views the world as an arrangement of concentric circles of power with itself being at the centre.It is increasingly becoming a revisionist power which wants to topple the existing global
Islamabad: The current outstanding payment on account of circular debt for Chinese Independent Power Producers (IPPs) has jumped to Pakistani Rupees (PKR) 350 billion with increasing demands to clear the backlog, The News International reported.During a China-Pakistan Economic Corridor (CPEC) review meeting held on Friday, it was announced, "The outstanding backlog of Chinese IPPs stands at Rs350
Islamabad: The International Monetary Fund (IMF) is in a dilemma regarding the sustainability of its funding in Pakistan, which would be difficult to defend in front of the Executive Directors of the Extended Fund Facility (EFF), reported Islam Khabar.Another issue is that the fund must address before disbursing the next tranche is Pakistan’s unfulfilled commitment to provide financing on the
Karachi: Expressing grave concerns over the shortage of different medicines including life-saving drugs, the Pakistan Medical Association (PMA) demanded the government to ease the process of opening letters of credit (LCs) for drug manufacturers, Dawn reported.In a statement issued here on Thursday, the PMA said that it had already warned the government that the failure to open letters of credit
Karachi: Several areas of Karachi remained in darkness on Monday as a high tension (HT) transmission cable tripped due to a technical fault, ARY News reported.About 40 per cent of Karachi was completely dark, after a high tension (HT) transmission line tripped, resulting in multiple grid stations tripping.Numaish Chowrangi, Saddar, Lines Area, Defence Housing Authority (DHA), Punjab Colony,
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Lt. Col. Allen West goes into detail on how America’s national debt is what will be ruin the United States.
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