Pakistan PM meets IMF Director on emergency rescue talks

by   |  VIEW 160
Pakistan PM meets IMF Director on emergency rescue talks

Over the sidelines of World Government Summit, the International Monetary Fund Director, Christine Lagarde had met Pakistani PM, Imran Khan, to hold talks on rescue attempts for Pakistani economy through bailout on Sunday, the 10th of February.

As of Sunday, the 10th of February, the talks were ongoing, while the IMF Director had renewed the call of Pakistan of reform to its derailed economy, however, there had not yet been any sign of agreement of a bailout package.

If Pakistan could secure a bailout package during this recent round of talks with IMF’s Christine, it would be the nation’s 13th bailout since 1980 and the second since 2013. However, a bailout deal appears to be a distant dream at this moment, since the crisis-sickened Pakistani government had been finding it extremely difficult to grapple with the demands of IMF.

However, as the talks are proceeding, Pakistan already secured over $10 billion in loans and credit agreements from Saudi Arabia, China and the United Arab Emirates in order to ease pressures on its squeezing foreign reserve.

Addressing her talk as “good and constructive” with Pakistan PM, Lagarde said in a statement in Dubai, “I also stressed that the adoption of decisive policies and a strong package of economic reforms would enable Pakistan to restore the resilience of its economy and lay the foundations for strong and comprehensive growth. ”