Pakistan to approach IMF for bailout: Asad Umar
ISLAMABAD: Finance Minister Asad Umar announced that he would approach the International Monetary Fund (IMF) for a bailout to address the mounting balance of payments crisis.Prime Minister Imran Khan approved the proposal to hold talks with the IMF for a bailout programme after consulting experts and stakeholders, according to the minister.The finance minister will lead a delegation to hold meetings with the officials of the International Monetary Fund (IMF) and World Bank in Bali this week. The delegation will attend the meeting taking place on the Indonesian island from October 12 to 14, sources within the Ministry of Finance said, according to Geo News.Finance Minister Umar will meet IMF officials on the sidelines of the meeting, where he will discuss the challenges confronting the Pakistani economy and the proposed IMF loan programme, the sources said.Pakistan has said it might need to return to the IMF to address its mounting balance of payments crisis but would seek funding from friendly countries first.Prime Minister Imran Khan, during a press conference on Sunday, blamed the country's economic woes on the previous government and said the country “may go to IMF for loan to handle [its] financial issues."
from The News International - Business https://ift.tt/2ywMpYv
from The News International - Business https://ift.tt/2ywMpYv
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