Pakistan Seeks Billions In New Loans After Floods: Report
NDTV
Pakistan PM Shehbaz Sharif did not specify the amount Pakistan is seeking, but repeated an estimate of $30 billion of flood losses, the report said.
Pakistan will ask international lenders for billions of dollars in loans after devastating floods exacerbated the South Asian nation's economic crisis, the Financial Times reported on Wednesday.
"We are not asking for any kind of measure [such as] a rescheduling or a moratorium," the country's Prime Minister Shehbaz Sharif told the Financial Times. "We are asking for additional funds."
The country needs "huge sums of money" for "mega undertakings" such as rebuilding roads, bridges and other infrastructure damaged or washed away, the FT quoted Sharif as saying.
Sharif did not specify the amount Pakistan is seeking, but repeated an estimate of $30 billion of flood losses, the report said.
