Imran Khan, who is poised to become the prime minister of Pakistan, is set to approve the country’s largest bailout from the International Monetary Fund.

Financial officials will brief Mr Khan on seeking $12 billion of support soon after he takes office. Mike Pompeo, the US secretary of state, has said that any cash should not be used to repay Chinese loans which Pakistan has recently used to fund major infrastructure ventures.

Mr Khan, the cricketer turned politician, is negotiating with smaller parties to form a coalition government. His Pakistan Tehreek-e-Insaf (PTI) party has 115 seats, 22 short of a majority.

A source in the finance ministry said: “Pakistan desperately needs financial help and at the moment an IMF bailout is the possible option.”