Friday, June 21, 2024
Friday, June 21, 2024
Home » IMF Did Not Ask Pakistan to Ensure $8bn Financing: Official

IMF Did Not Ask Pakistan to Ensure $8bn Financing: Official

by Zack Ball
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The International Monetary Fund (IMF) representative in Pakistan has denied reports that the Fund has demanded Pakistan to ensure financing of $8 billion.

IMF’s Esther Pérez Ruiz has said that the foreign body will continue to support financial assistance for Pakistan from its friendly partners.

The Fund also supports Pakistan’s efforts for external payments agreed upon in ninth financial review.

Previously, it was reported that the IMF has demanded Pakistan ‘do more’ before agreeing on the staff-level agreement for resumption of a billion-dollar loan program.

Pakistan has to satisfy the IMF regarding repayment arrangements for loans worth $8 billion by December 2023, it had been reported.

During May and June 2023, Pakistan has to repay external debt of $3.7 billion.

The IMF sought an assurance for an additional $2.4 billion, sources in the Finance Ministry said.

Pakistan has to ensure roll-over from China to repay another $2.4 billion in loans, the sources had added.

Source : Samaa

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