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IMF rejects Pakistan's circular debt management plan for a potential bailout loan

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The International Monetary Fund, IMF, has rejected Pakistan government's circular debt management plan. During talks on a potential bail out, it asked the Pakistani authorities to raise the electricity tariff to restrict the losses of the cash-bleeding power sector. The IMF delegation headed by Nathan Porter is in Islamabad for discussing the ninth review of a 7 billion dollar loan programme. 

Meanwhile, Pakistan Prime Minister Shehbaz Sharif has said, the IMF was giving Islamabad a tough time on the bailout. Pakistan’s forex reserves have dropped to critically low levels which can cover merely 18 days of imports. Inflation has risen to a 48-year-high in Pakistan and citizens are struggling to afford basic food items and amenities. (AIR NEWS)

392 Days ago