Pakistan’s Financing to be determined after the ninth review, IMF Chief

ISLAMABAD: The International Monetary Fund (IMF) has said the 9th review of the $1.2 billion bailout program for Pakistan will be completed once necessary financing is in place and an agreement is finalized.  On Friday, the IMF chief said that the organization is working with local authorities in Pakistan to conclude its 9th review of the bailout program in connection with the “critical” funding required by the “cash-strapped” country to avoid an economic collapse.  Pakistan and the IMF have been engaged in discussing fiscal policy measures since February, to resume the stalled funding which was due in November, agreed upon in 2019. BFAME delegation visits Lahore Fort, historical sites We received more love than expected in Pakistan, says Indian bridge team captain It is pertinent to mention that the funding is critical for Pakistan as it is currently facing a payment crisis which may lead to an economic collapse similar to Sri Lanka’s crisis from the previous year. Additionally, Pakistan’s foreign exchange reserves are at an all-time low, with enough to “pay for four weeks of controlled imports”, reported Dawn.  In a statement given to Reuters, mission chief Nathan Porter said: “The IMF continues to work with the Pakistani authorities … Continue reading Pakistan’s Financing to be determined after the ninth review, IMF Chief