Business
Pakistan, IMF weighing $2.5 bln standby arrangement of six to nine months: Report
Pakistan and the International Monetary Fund are discussing a $2.5 billion “standby arrangement” of six to nine months, the Dawn newspaper reported on Wednesday, quoting an unnamed official.
The fund would cover the remaining amount of a $6.5 billion bailout agreement signed in 2019, of which $4 billion have been released so far, and which expires on June 30.
For the latest headlines, follow our Google News channel online or via the app.
Pakistan’s parliament on Sunday had approved the government’s 2023-24 budget which was revised to meet International Monetary Fund conditions in a last ditch effort to secure the release of more bailout funds.
Read more: Pakistan PM meets IMF’s Georgieva, hopes funds to be released ‘as soon as possible’