IMF bailout package for Pakistan may reach $15 billion, largest ever in Pakistan's history: Report
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ISLAMABAD – International Monetary Fund program for Pakistan would be the biggest ever for Pakistan in its entire history, it has been reported.
IMF bailout could be valued at $15 billion, the Institute of International Finance (IIF) said in a report.
According to the report, IIF expects an agreement on a three-year IMF program of $15 billion by end of this year.
The rupee’s 24% depreciation since end of 2017 may have eliminated most of the overvaluation, the institute stated.
Fiscal adjustment, monetary tightening, and a greater exchange rate flexibility will be integral to the new program, it said.
Finance Minister Asad Umar on Saturday said the government will have to take difficult decisions that would be painful for people but necessary under international commitments to get out of the current severe economic situation.
