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Sunday, November 29, 2020

Pakistan-IMF talks on restarting $6 billion loan stalled: Report

An IMF team due to visit Islamabad in October has yet to arrive, as fund officials await signs that Pakistan is willing to take further steps to reduce its fiscal deficit, the report said, citing one of the people.

By: Bloomberg | November 21, 2020 11:40:42 am
Vehicles move along a road in Karachi, Pakistan

Pakistan Prime Minister Imran Khan’s refusal to introduce unpopular reforms has stymied talks with the International Monetary Fund to restart a $6 billion loan, the Financial Times reported, citing unidentified senior government officials.

An IMF team due to visit Islamabad in October has yet to arrive, as fund officials await signs that Pakistan is willing to take further steps to reduce its fiscal deficit, the report said, citing one of the people.

Pakistan, which was granted the $6 billion IMF bailout last year after an economic crisis, was forced to seek further debt relief and another loan this year to fight the fallout of the coronavirus pandemic.

Pakistan was set to resume talks by the end of this month, but there has been no confirmation from the IMF, the newspaper reported, citing one of the people.

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