Why Pakistan's new PM should look to IMF and not China for a bailout

Turkey's crisis dragged emerging markets back into bear territory this week, a warning to Pakistan about what may lie ahead

As former cricket star Imran Khan prepares to take his oath as Pakistan’s new prime minister Saturday, there’s one thing he must be clear about: Pakistan may be China’s friend at the moment, but the relationship could quickly turn sour.

In the next month or so, Islamabad may have to take another bailout package from the International Monetary Fund — the country’s 13th. The State Bank of Pakistan now holds just over $10 billion in foreign exchange reserves, giving enough room to buy only two months’ worth of imports.

But the IMF route is tedious. A rescue package from the