ISLAMABAD: Pakistan current account deficit had swelled to $14.035 billionin the first 10 months resulting into slashing down of foreign currencyreserves.
Pakistan is looking towards China as the last available option withexpectations of receiving $01 to $02 billion on account of safe depositsbefore June 30, 2018, reported *The News*.
If China does not rescue Islamabad, then there will be no other choice butto knock at the door of the IMF as lender of last resort for all countriesfacing balance of payment crisis and avoiding default on external paymentposition.
When Federal Minister for Finance Dr Miftah Ismail was contacted forseeking his comments on Friday, he said that there was a month of heavyrepayments to foreign institutions after which the foreign currencyreserves declined.