IMF reportedly links Pakistan bailout package with two strict conditions

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IMF reportedly links Pakistan bailout package with two strict conditions

ISLAMABAD - International Monetary Fund has reportedly linked Pakistan bailout package with debt transparency and US approval, it has been revealed.

Pakistan’s debt transparency is an utmost prerequisite for a possible bailout package from the International Monetary Fund (IMF), a spokesperson of the Washington-based lender said, adding the talks with the country continue to reach understanding on the economic policy priorities.

IMF Communications Department Director Gerry Rice said discussions with Pakistan are active and “they continue toward reaching an understanding on the policy priorities and reform to stabilise the economy, lay the foundations for sustainable, inclusive growth”.

Rice was addressing a presser on Thursday, according to a transcription made available on the IMF’s website on Saturday.

“When a program is agreed by staff with the authorities, it goes forward to the board. And the board representing our membership, including the United States, of course, makes the final decision on whether that program should go ahead,” he said, responding to a question whether or not IMF considers the US insistence that any of IMF loan to Pakistan should not be used to repay the country’s debt to China.