Pakistan Needs ‘Significantly’ More Financing to Complete Bailout Review: IMF

On Thursday, the IMF warned Pakistan needs significant more funding to complete the stalled ninth review of its bailout programme.

In a press conference, IMF spokeswoman Julie Kozack said that “significant additional financing” is needed before the IMF releases rescue cash.

Kozack praised Pakistan’s external partners’ funding. In recent weeks, China, Saudi Arabia, and the UAE have pledged to fill some of the budget imbalance.

Finance Minister Ishaq Dar told an Islamabad event earlier that Pakistan would not fail even if the IMF programme is not reinstated.

The SBP’s reserves have reduced to $4.38 billion due to $3.7 billion debt payments. Today, Pakistan’s finance minister pledged to meet all debt obligations.

The Ministry of Finance also stated last week that arrangements had been taken to rollover and repay this debt.

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