WASHINGTON – Pakistan is seeking $8 billion from the InternationalMonetary Fund (IMF) to bail itself out from a severe crisis.
IMF could place strict conditionalities, forcing Pakistan to seekadditional loans for meeting those restrictions and this could expand theloan facility to $12bn.
Pakistan began exploring the possibility of yet another loan package withthe IMF while the PML-N was still in power and the exploratory talkscontinued under the interim government as well.
The final decision, however, was announced on Monday night when FinanceMinister Asad Umar confirmed that the government was going to the IMF tobail Pakistan out of its foreign currency crisis.