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Home»World»Pakistan made ‘substantial progress’ by towards loan program: IMF | World News
World

Pakistan made ‘substantial progress’ by towards loan program: IMF | World News

March 23, 2023No Comments1 Min Read
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Bloomberg | | Posted by Shobhit Gupta

The Worldwide Financial Fund mentioned Pakistan has made “substantial progress” towards assembly coverage commitments wanted to unlock billions of {dollars} in loans the nation must keep away from default.


Pakistan Economic Crisis: A woman checks rice prices at a main wholesale market in Karachi. (AFP)
Pakistan Financial Disaster: A lady checks rice costs at a principal wholesale market in Karachi. (AFP)

Learn right here: Shehbaz Sharif vs Imran Khan on Pakistan’s IMF deal: ‘Niazi’s agenda is….’

“A staff-level settlement will comply with as soon as the few remaining factors are closed,” mentioned Esther Perez Ruiz, the IMF’s resident consultant for Pakistan, referring to a key milestone to unlock a program anticipated to be price $6.5 billion.

“Making certain there’s enough financing to help the authorities within the implementation of their coverage agenda is the paramount precedence,” she added.

Pakistan Finance Minister Ishaq Dar mentioned final week that the IMF needs to see nations finalize commitments they’ve made to assist Pakistan shore up its funds.

Learn right here: Are Pakistan-IMF mortgage talks again on observe? Here is why deal could take some time

Pakistan must repay about $3 billion of debt by June, whereas $4 billion is anticipated to be rolled over.

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