11-May-2025
Economy News
 
Pakistan interested in another loan from IMF to revive economy: Report
02-Jun-2023

Pakistan Prime Minister Shehbaz Sharif has expressed interest in securing a new loan from the IMF during his talks with its chief Kristalina Georgieva though there are slim chances for the revival of the ongoing bailout package from the global lender, a media report said on Thursday. Sharif last Saturday held a telephone conversation with the fund's managing director and urged her to revive the $6.5 billion deal which was initially signed in 2019 and was set to expire by the end of this month. However, the chances of revival are thin due to the limited time available to implement the tough conditions of the IMF, forcing Pakistan to look for a new deal to meet multiple economic challenges. Prime Minister Sharif had revealed Pakistan's intentions to sign a follow-up bailout package during his telephonic conversation with the IMF head, The Express Tribune newspaper quoted sources as saying. The sources said the IMF chief reciprocated the premier's views about the need for another package. Diplomatic corps and international financial institutions think that Pakistan cannot avoid default without securing a new IMF package.

News Source:- https://economictimes.indiatimes.com/news/international/business/pakistan-interested-in-another-loan-from-imf-to-revive-economy-report/articleshow/100681144.cms