Pak begins talks with IMF to resurrect enhanced bailout package to support its sagging economy
India Today
Pakistan initiated talks with the International Monetary Fund (IMF) on Wednesday to resurrect an enhanced bailout package to support its sagging economy.
Talks between Pakistan and the International Monetary Fund began on Wednesday to resurrect an enhanced bailout package to support the sagging economy of the cash-strapped country.
Pakistan has repeatedly been seeking international aid to support its failing economy.
The talks are being held in the Qatari capital Doha, the finance ministry tweeted. The negotiations are expected to continue into next week, it said.
Finance Minister Miftah Ismail, Minister of State Aisha Ghous Pasha, Finance Secretary Hamed Yaqoob Shaikh, State Bank of Pakistan (SBP) Acting Governor Murtaza Syed, Federal Board of Revenue (FBR) Chairman Asim Ahmad and other senior officials from the finance division are participating in the talks taking place virtually.
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Ismail who travelled to Washington last month and met with the Fund officials, said that the effort was not just to revive the USD 6 billion IMF bailout package signed by former prime minister Imran Khan in 2019 but also to add another USD 2 billion to it.
The 2019 agreement has never been fully implemented due to the failure of Khan’s government to fulfil its commitments made with the fund, which so far has released only USD 3 billion under the agreed programme.
