Pakistan, IMF bailout talks to commence from Nov 7

ISLAMABAD: A delegation of the International Monetary Fund (IMF) will arrive in Pakistan on November 7 for talks on a bailout package.


According to details, IMF has also prepared conditions that include control on privatization, tax reforms, circular debts and inflations for Pakistan to avail the package.

On Saturday, Pakistan’s Finance Minister of Pakistan, Asad Umar claimed that this would be last time the government is approaching International  Monetary Fund (IMF) for the bail out package to address economic woes.

“This will be the last IMF programme,” the finance minister assured while addressing an event at Pakistan Stock Exchange, here at metropolis.

Furthermore Asad Umar clarified that “The media is portraying the country’s economy as collapsing but that is not the case. No alarm bells are ringing.”

However, Umar said, “This year there is a financing gap of $12 billion.”

“In the next seven to eight months, the US dollar will see a decrease of 26% to 27% against the Pakistani rupee,” he further claimed  while adding that “matters are coming under control”.

Umar further announced that measures were being taken to improve the stock exchange and said, “There is astounding growth in the stock market and efforts should continue for better results.”


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