IMF Confirms That Cash-Strapped Pakistan Is Seeking 24th Bailout
NDTV
The statement said subject to the approval of its executive board, the staff-level agreement would enable Pakistan to access about USD 1.1 billion -- 828 million special drawing rights (SDR) -- by late April.
Announcing the staff-level agreement on the successful completion of the existing short-term facility, the IMF has confirmed that cash-strapped Pakistan is seeking a 24th medium-term bailout package for a permanent push towards longstanding structural reforms.
The International Monetary Fund (IMF) in its end-of-mission statement on Wednesday said the cash-strapped country "expressed interest in a successor medium-term Fund-supported programme to permanently resolve Pakistan's fiscal and external sustainability weaknesses, strengthening its economic recovery, and laying the foundations for strong, sustainable, and inclusive growth", Dawn News reported.
It said the global lender's team reached a staff-level agreement with the Pakistani authorities on the second and final review of Pakistan's stabilisation programme supported by the IMF's USD 3 billion standby arrangement approved in July last year.
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