Something went wrong with the connection!
 Breaking News

IMF chief, Pakistan FM meet as Islamabad seeks bailout  

IMF chief, Pakistan FM meet as Islamabad seeks bailout   
October 11
17:01 2018

NUSA DUA, Indonesia: IMF chief Christine Lagarde met with Pakistani officials Thursday and said a team would visit Islamabad for talks on a possible bailout of its shaky economy.
Pakistan Finance Minister Asad Umar, who is attending the Fund’s annual meeting in Bali, announced earlier this week that the government would seek talks with the IMF on a “stabilization recovery program”.

Lagarde earlier Thursday said the IMF had yet to receive anything formal from Islamabad but that she would meet with the Pakistani delegation in Bali. “During the meeting, they requested financial assistance from the IMF to help address Pakistan’s economic challenges,” Lagarde said in a statement.
“An IMF team will visit Islamabad in the coming weeks to initiate discussions for a possible IMF-supported economic program.” Prime Minister Imran Khan on Wednesday vowed to steer the country out of a looming balance-of-payments crisis, saying it needs USD 10-12 billion.

“We will get out of this. I will take (the country) out of this,” he said.
Khan’s new administration took office in August vowing to weigh up whether to seek an IMF bailout as it sought other avenues of financing.
He has sought loans from friendly countries, promised to recover funds stolen by corrupt officials, and embarked on a series of populist austerity measures.

But help has been in short supply and economists’ warnings have grown increasingly urgent.
Pakistan has gone to the IMF several times since the late 1980s. The most recent was in 2013, when Islamabad got a 6.6 billion loan to tackle a similar crisis. AFP

Comments

comments

Related Articles

E-paper Latest Edition

Subscribe to our Digital Edition

Epaper

ADVERTISEMENT – Tracy Hills

Tracy Hills

ADVERTISEMENT – Mountain House Living

Mountain House

ADVERTISEMENT – Star Tours

Star Tours

ADVERTISEMENT – Land Sea Homes

Land Sea Homes

ADVERTISEMENT – Global Holidays

Global Holidays Early Bird Discounts

50 SPIRITUAL APPETIZERS – VINOD DHAWAN

50-ad-Indiapost

It’s a lovely book. It feels energetically clear and light. It’s easy to read, dip in and out and most importantly it offers information without fluff! Blessings on this project.

Jac O’Keeffe
Spirituality teacher based in USA.

*Available on Amazon, Flipkart & other online stores*

Follow us On Twitter

Save yourself from such crime. Be Smart Park Smart - @FremontPD https://t.co/Spwpg963lz
h J R
@Indiapost_News
Our heart goes out for the CRPF Jawans in India and their families who lost their lives as martyrs. 🙏 Rest In Peace… https://t.co/QXoyJOtWw9
h J R
@Indiapost_News
Read & Subscribe to our Digital Edition Exclusively on https://t.co/6flXKTN3fI. Click the link below to read now!… https://t.co/kVIwXrvhKQ
h J R
@Indiapost_News

Polls

Was This the Best Pravasi Bhartiya Divas?

View Results

Loading ... Loading ...

Subscribe To Our Mailing List

Enter your email address:

Delivered by FeedBurner

Subscribe to IndiaPost by Email

Facebook

POPULAR CATEGORIES

Download Media Kit