Pakistan will start talks with International Monetary Fund (IMF) over 13th IMF bailout package. The talks will start from Wednesday and go on for nearly two weeks. In order to get out of the financial crisis, Pakistan will seek 13th IMF bailout since the 1980s.
Pakistan needs $12 billion and most of it will be pursued from IMF according to the Finance Minister Asad Umar.
Finance ministry spokesman Noor Ahmed said, “The initial three to four days (of the talks) are for technical discussion. Thereafter, there will be policy dialogue on the specific contents of the programme.”
In October, Saudi Arabia announced a $6 billion assistance package for Pakistan which will be split into two. $3 billion for foreign currency support and a $3 billion loan for oil payment.
This announcement was made following the Pakistan PM Imran Khan’s visit to Riyadh. He visited Saudia for an investment conference that was boycotted by many countries due to the murder of Saudi journalist at Saudi Arabia’s consulate in Istanbul.
Ahmed said, “The support we received left and right will have an overall impact on our microeconomic numbers. The programme that will be designed (with the IMF) will be stability focused. They will look at the numbers and take their decision.”