Cash-strapped Pakistan, IMF agree to extend stalled bailout package and increase loan size to $8 billion: Report
2 years, 8 months ago

Cash-strapped Pakistan, IMF agree to extend stalled bailout package and increase loan size to $8 billion: Report

The Hindu  

Cash-strapped Pakistan and the IMF have agreed to extend the stalled bailout package by up to one year and increase the loan size to $8 billion, giving a breathing space to the new government led by Prime Minister Shehbaz Sharif, a media report said on Sunday. The understanding was reached after the crucial talks between Pakistan's newly-appointed Finance Minister Miftah Ismail and IMF Deputy Managing Director Antoinette Sayeh in Washington, The Express Tribune reported, citing sources. Before taking Pakistan’s case to the IMF Board for approval, Islamabad would have to agree on the budget strategy for the next fiscal year 2022-23, the sources said. On Wednesday, Mr. Ismail in his first press conference as the country’s Finance Minister said that the IMF had put forward a list of demands for the revival of the bailout package to be implemented.

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