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Pakistan to hold talks with IMF, WB for securing critical bailout package

SAMAA | - Posted: Apr 13, 2013 | Last Updated: 9 years ago
SAMAA |
Posted: Apr 13, 2013 | Last Updated: 9 years ago

Staff ReportISLAMABAD: A high-level team of the country’s economic managers will leave for Washington on April 18 to hold talks with the IMF and the World Bank to seek a critical bailout package for the country’s ailing economy, SAMAA reports.The delegation which will include governor State Bank of Pakistan, chairman Federal Board of Revenue and secretary Ministry of Finance will hold talks with officials of the International Monetary Fund and the World Bank from April 19 to April 21.A spokesman of the finance ministry said that upcoming talks are very crucial in the context of current macroeconomic situation, adding the issue of getting a new loan package from the IMF could also come under discussion.“Approaching IMF for assistance is not insulting,” the spokesman said, adding the IMF was established to help countries in need of financial assistance. It may be mentioned that Pakistan’s foreign exchange reserves are running critically low mainly due to low foreign inflows and high debt payments. – SAMAA

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