Pakistan and the IMF bailout package: Governor SBP makes key announcement

KARACHI – Over the issue of Pakistan going for the International MonetaryFund bailout package again, Governor State Bank of Pakistan says thatPakistan will not go to the International lender again after completion ofcurrent programme.

Pakistan may not go for another bailout loan from the InternationalMonetary Fund (IMF) as the recent measures taken to shore up foreignexchange have started bearing fruits, the central bank governor said onMonday.

“The goal is to have foreign exchange reserves that are sufficiently highand with that we will not go back to the IMF for another programme,” RezaBaqir said at a lecture on “Pakistan Economy: Macroeconomic Challenges andOutlook” here at IBA Karachi.

“Pakistan will not be experiencing a reserves fall as it had faced at theclose of every past Fund’s programmes,” Baqir added. The foreign exchangereserves held by the State Bank of Pakistan (SBP) rose to $8.46 billion asof September 20 from $7.28 billion at end-June 2019.

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“Pakistan will not be experiencing a reserves fall as it had faced at theclose of every past Fund’s programmes,” Baqir added.

The foreign exchange reserves held by the State Bank of Pakistan (SBP) roseto $8.46 billion as of September 20 from $7.28 billion at end-June 2019.