Summary Pakistan currently owes the IMF just over $6.2 billion.
(Dunya News) – International Monetary Fund (IMF) official on Friday stated that Pakistan's request for loan will be reviewed after assurance of Council of Common Interest.
Director of Communication Department Gerry Rice said that IMF executive board will meet in September to review Pakistan’s request. But Pakistan’s Council of Common Interest (CCI) will have to assure the fund over financial package, power tariff hike and tax reforms.
Last week, Pakistan and the International Monetary Fund agreed to a long-term bailout loan of at least $5.3 billion that would give breathing room to the country's struggling economy.
The announcement by Pakistani Finance Minister Ishaq Dar and Jeffrey Franks, the IMF mission chief, was the result of negotiations between Islamabad and an IMF delegation that had been in Pakistan for 15 days.
Pakistan has been a regular client of the IMF for more than two decades. It has entered nearly a dozen loan programs since 1988, but only successfully completed a handful. The country currently owes the IMF just over $6.2 billion.
