Current Affairs - International - Discussion

China approved USD 1 billion grant to Pakistan after it has been placed in Financial Action Task Force FATF's 'grey list'. The idea behind putting Pakistan in the grey list is to tighten their economy and curb terror financing. Earlier Saudi Arabia and China had pulled out from any cooperation but this time around China is providing financial aid to the nation. The move comes after Pakistan's foreign exchange reserves dropped to $9.66 billion last week from $16.4 billion in May 2017.