Speaking shortly after Prime Minister Imran Khan returned from Beijing, Pakistan's finance minister said Tuesday that assurances from China - combined with a pledge made by Saudi Arabia last month - meant that Pakistan's immediate fiscal woes were "over".
"We had a gap of $12 billion and in that $12 billion, six billion came from Saudi Arabia and the rest came from China," Asad Umar told reporters, without specifying the nature of the Chinese assistance.
As well as a highly-publicised austerity drive, including auctioning off government-owned luxury automobiles and buffaloes, the new prime minister has also made overtures to the IMF - which has bailed Pakistan out repeatedly since the 1980s.
However, Islamabad received billions of dollars in Chinese loans to finance ambitious infrastructure projects, and the US - one of the IMF's biggest donors - has raised fears that Pakistan could use any bailout money to repay its debts to Beijing.
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