Pakistan makes a $2 billion request to IMF

Pakistan makes a $2 billion request to IMF

ISLAMABAD - Pakistan makes a $2 billion request to International Monetary Fund.

The IMF’s Executive Board will consider Pakistan’s request for utilising around $2 billion for budgetary support in the next fiscal year out of total size of $6 billion bailout package agreed by Islamabad and the Fund authorities last month.

The IMF’s Executive Board is expected to take up approval of Pakistan’s bailout package by next month (July 2019).

After implementation on all prior action under the IMF programme, Adviser to PM on Finance and Revenue Dr Abdul Hafeez Shaikh and Governor State Bank of Pakistan Reza Baqir will formally sign letter of intent (LoI) and memorandum of economic and financial policies (MEFP) probably in third or fourth week of the ongoing month.

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