'A dispute left over from history,' Kashmir needs peaceful resolution — China

A Pakistani girl holds a candle during a vigil for peace between Pakistan and India in Lahore on March 3, 2019. (AFP)
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Updated 17 January 2020

'A dispute left over from history,' Kashmir needs peaceful resolution — China

  • China believes UN Security Council’s review of the Kashmir issue ‘will help ease the situation’
  • It is a dispute ‘left over from history’ and should be resolved in accordance with international law, says Chinese Foreign Ministry

ISLAMABAD: India should give serious consideration and positive response to the request of the United Nations Security Council, which called “for observance of the UN Charter and international law” with regard to New Delhi’s ongoing lockdown of Kashmir, the Chinese Ministry of Foreign Affairs said during a press briefing on Friday.
At the request of Pakistan, which was backed by China, the Security Council reviewed the issue of Kashmir on Wednesday.
“Members of the Security Council are concerned about the current situation in Kashmir, and call for observance of the UN Charter and international law, and peaceful resolution of disputes through political dialogue. They believe relevant parties should remain restrained and deescalate the tension,” Chinese Foreign Ministry spokesman Geng Shuang told reporters, according to a statement published on the ministry’s website.
He said Beijing’s position on the issue of Kashmir remains unchanged, as the Chinese government sees it as “a dispute left over from history,” which should be resolved “properly and peacefully in accordance with the UN Charter, relevant Security Council resolutions and bilateral agreements.” 
However, according to Shuang, the council should pay attention to the region “in light of new developments” and its review “will help ease the situation in the region.”
As one of the Security Council’s five permanent members, “China will continue to play a constructive role in upholding regional peace and stability,” Shuang said, adding that Beijing has been calling on India and Pakistan to “exercise restraint, step up dialogue and enhance mutual trust to deescalate the situation as soon as possible.”


IMF approves $450 million for Pakistan

Updated 27 February 2020

IMF approves $450 million for Pakistan

  • Concerns were raised recently about the future of the $6 billion bailout program
  • IMF’s decision will restore foreign investors’ trust in Pakistan, analysts say

KARACHI: The International Monetary Fund (IMF) on Thursday reached a staff-level agreement with Pakistani authorities, clearing the way for the country’s third bailout installment of $450 million.
“Completion of the review will enable disbursement of SDR 328 million (around $450 million),” Ernesto Ramirez Rigo, IMF mission chief for Pakistan, said in statement.
He added the agreement is subject to approval by the fund’s management, which is expected in early April.
IMF delegates were in Islamabad from Feb. 3 to Feb. 13 for their second quarterly review of Pakistan’s $6 billion bailout program.
When they left Pakistan without signing the staff-level agreement, concerns were raised about the future of the loan. Analysts say the staff-level agreement ends the uncertainty and investors’ trust is likely to return to Pakistan.
“Foreign investors who had backed off due to lack of clarity about the program review will now come back to the Pakistani market,” senior economist Muzamil Aslam told Arab News.
“The international lenders who had delayed lending will continue their programs for Pakistan. It will restore the confidence of international investors, because they give weightage to the IMF review,” he said.
Pakistan has so far secured $1.44 billion under the IMF loan program since July 2019.