Pakistan formally requests IMF for bailout
Finance Minister Asad Umar and State Bank of Pakistan Governor Tariq Bajwa called on IMF chief in Bali, Indonesia. Lagarde informed the Pakistani officials that IMF delegation will visit Islamabad next week.
The delegation will discuss matters related to economic programmes of Pakistan during the visit.
Finance minister Asad Umar, who is attending the annual meeting of the World Bank and IMF, announced earlier this week that Prime Minister Imran Khan given the go-ahead to hold talks with the IMF for a bailout programme after consulting economic experts and stakeholders.
Pakistan to approach IMF as PM Imran gives ... 09:40 PM | 8 Oct, 2018
ISLAMABAD - The Pakistani government has decided to approach the International Monetary Fund (IMF) for a bailout to ...
Recently, the IMF concluded a consultative visit with a warning that Pakistan needed to quickly secure “significant external financing” to stave off a crisis, though it did not suggest who could supply the money.
On Wednesday, PM IMran vowed to steer the country out of a looming balance-of-payments crisis, saying it needs $10-12 billion. "We will get out of this crisis. I will take (the country) out of this," he said.
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