Pakistan to seek at least $6 billion in ‘new IMF loan programme, pakistan is preparing to get a new loan from the International Monetary Fund (IMF) for at least $6 billion in order to pay off its growing debt, according to Bloomberg News.
It is expected that talks with the IMF over the Extended Financing Facility (EFF) will begin in March or April, when the current bailout programme expires next month.
Pakistan’s efforts to stabilise the economy have yielded positive outcomes, as seen by the steps it has taken to conform to IMF standards, including hiking interest rates and implementing fiscal adjustments fees associated with public services.
As stressed by Fitch Ratings, which emphasises how important this is given the unstable external environment, obtaining funding from international partners is a major priority for the administration.
