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Talks with the IMF over possible bailout package have entered the final stages, says Asad Umar


Photo: AFP

Finance Minister Asad Umar has said that talks with the IMF over a possible bailout package have entered the final stages, Radio Pakistan reported Sunday.

However, he said that the PTI government will have further negotiations with IMF officials before reaching an agreement.

Umar said that the IMF’s new Pakistan mission chief has been nominated and will arrive in Islamabad on March 26. The new chief will meet finance ministry and State Bank of Pakistan officials after assuming charge, he added.

Related: All you need to know about IMF and Pakistan

The finance minister said that talks with the IMF over a final agreement will be held after the annual meetings of the World Bank and IMF in Washington next month.

Pakistan has gone to the IMF repeatedly since the late 1980s. The last time was in 2013, when Islamabad got a $6.6 billion loan to tackle an economic crisis.

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