Pakistan assures IMF of $8 billion external payments: Report
1 year, 5 months ago

Pakistan assures IMF of $8 billion external payments: Report

India Today  

Cash-strapped Pakistan has provided the IMF with a financing plan for external payments, in which it has informed the global lender that it will arrange USD 8 billion for the purpose instead of USD 6 billion, according to a media report on Saturday. The Executive Board of the IMF will meet on July 12 to review the SBA for Pakistan According to sources in the finance ministry, the IMF had asked Pakistan for assurances of USD 6 billion for external payments, The Express Tribune newspaper reported. However, the sources added that Pakistan had given the IMF assurances of USD 8 billion for external payments. The sources said China would provide USD 3.5 billion to Pakistan of which Islamabad would keep USD 2 billion in deposits, while the commercial banks of Beijing would provide the country with USD 1.5 billion.

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