Pakistan Plans to Seek Six Billion IMF Loan for Debt Repayment

Pakistan Plans to Seek Six Billion IMF Loan for Debt Repayment

Nadia Nawaz | February 23, 2024 | 12:05 PM IST | Breaking News, Pakistan News, World | Follow on Google News

Pakistan Plans to Seek Six Billion IMF Loan for Debt Repayment

Pakistan Plans to Seek Six Billion IMF Loan for Debt Repayment

Pakistan is reportedly planning to seek a new loan of at least Six billion from the International Monetary Fund (IMF) to help the incoming government repay billions in debt due this year, according to a Bloomberg News report.

The country intends to negotiate an Extended Fund Facility with the IMF, with talks expected to begin in March or April. The current short-term IMF bailout, which helped Pakistan avert default last summer, expires next month.

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To secure a long-term arrangement and stabilize the $350-billion economy, the incoming government will need to engage in negotiations.

Pakistan Seeks Six 6 Billion IMF Loan for Debt Repayment

Pakistan is planning to seek a new loan of at least $6 billion from the International Monetary Fund (IMF) to assist the incoming government in repaying billions in debt due this year, as per a Bloomberg News report.

The country aims to negotiate an Extended Fund Facility with the IMF, with talks anticipated to commence in March or April.

The current short-term IMF bailout, which prevented default last summer, is set to expire next month.

To maintain stability in the $350-billion economy, the incoming government will need to negotiate a long-term arrangement with the IMF.

Pakistan Plans to Seek Six Billion IMF Loan for Debt Repayment

Nadia Nawaz

Nadia Nawaz – a new journo in digital journalism covers stories, reports/articles from Pakistan. Nadia writes on various topics, include Politics, Economy,Sports and finance. she further holds a high head in field of graphic designing. Nadia can be reached on nawaznadia20@gmail.com