Pakistan starts talks on possible bailout package with IMF
IMF delegation held first round of talks with top Finance Ministry officials in Islamabad.
ISLAMABAD (Dunya News) - Pakistan begins nearly two weeks of talks with the International Monetary Fund (IMF) on Wednesday over what would be the country s 13th IMF bailout since the 1980s to help it end a spiraling current account crisis.
Sources of Finance Ministry told Dunya News that the IMF delegation led by its chief Herald Finger held first round of talks with top Finance Ministry officials in Islamabad which were on a on a "technical level".
Secretary Finance Arif Ahmed Khan, Additional Secretary External Finance and other Finance Ministry officials held talks with IMF delegation. Sources said that Finance Ministry officials briefed the IMF delegation on Pakistan’s economic situation.
The external finance department of the Finance Ministry provided the details of external debt to the IMF delegation while details of payments and debt interest rates were also provided.
The finance ministry sources further informed that the policy-level talks between Pakistan and the Fund will begin on Monday. The IMF delegation will stay in Pakistan for two weeks and the bailout package will be finalized during this period.
