Pakistan applies for $10bn US forex facility, leverages Iran mediation
But experts warn funding paves way for Washington's scrutiny over China debt
Source excerpt
But experts warn funding paves way for Washington's scrutiny over China debt
Pakistan requested the $10 billion currency backstop after it helped mediate between the U.S. and Iran, led by the country's military chief, Field Marshal Asim Munir. (Nikkei montage/Source photo by Reuters)
ISLAMABAD -- Pakistan recently applied for a U.S. foreign currency backstop facility worth up to $10 billion to strengthen the country's ability to withstand any foreign reserve-related shock, Nikkei Asia has learned.
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