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Bilawal urges Centre to renegotiate its deal with IMF

SAMAA | - Posted: Mar 26, 2020 | Last Updated: 1 week ago
SAMAA |
Posted: Mar 26, 2020 | Last Updated: 1 week ago
Bilawal urges Centre to renegotiate its deal with IMF

Photo: FILE

Pakistan Peoples Party Chairman Bilawal Bhutto Zardari urged on Thursday the federal government to renegotiate its deal with the International Monetary Fund.

Describing the deal as “ruinous”, he said the government must renegotiate new terms with the IMF that take into account the impact of coronavirus on the global economy.

Bilawal’s statement came as the known cases of the virus in Pakistan neared 1200, with nine deaths reported so far.

Pakistan signed $6 billion extended fund facility (bailout) programme with the IMF in July 2019.

Islamabad received the first IMF payment of $991.4 million on July 10, 2019. It received another $452 million in December 2019.

The country would get the remaining amount in installments over the next three years.

Islamabad is also in talks with the IMF to secure $1.4 billion in aid to fight coronavirus, the government’s economic team said in a joint press conference on Wednesday.

The talks are about to complete. This aid will be in addition to the ongoing $6 billion bailout programme signed between the two parties.

The Washington-based lender will provide this fresh loan on soft terms.

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3 Comments

  1. Avatar
      Zonair  March 27, 2020 1:00 am/ Reply

    Useless news.

  2. Avatar
      Mohammad Mazhar  March 27, 2020 1:13 am/ Reply

    This guy just want to be in news. He knows very well as mentioned Dr. Hafeez the Government of Pakistan is going to request renegotiate the deal. It was in the news, does not he read or listen newspaper or tv.

  3. Avatar
      Zahir  March 27, 2020 2:32 am/ Reply

    Why is it that the opposition parties just want to take credit for something that the Government has already announced they are doing?

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coronavirus, Bilawal Bhutto Zardari, IMF, federal government, IMF deal, PPP
 
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