Is Pakistan’s $7bn IMF bailout package in trouble?
Pakistan’s deputy prime minister has accused the IMF of stalling on a loan deal, prompting concerns over its fate. Earlier this week, Pakistan’s Deputy Prime Minister Ishaq Dar accused the IMF of “deliberately delaying” the release of funds. Pakistan eventually narrowly avoided default when Shehbaz Sharif, in his first stint as prime minister, managed to secure a new, nine-month long $3bn Stand-by Agreement with the IMF in June 2023. While Dar suggests “geopolitical factors” may be responsible for the delay, experts believe Pakistan’s failure to meet two key IMF demands is the root cause: securing the rollover of debt repayments to China, the UAE, and Saudi Arabia, and obtaining an additional $2bn in additional financing. However, Rana, the economic analyst, said that the IMF has been setting fiscal targets for Pakistan that are “unrealistic” and added that Dar’s comments do have certain merits.
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