{"id":63662,"date":"2024-02-23T21:46:04","date_gmt":"2024-02-23T21:46:04","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/pakistan-to-seek-6bn-in-new-imf-programme\/"},"modified":"2024-02-23T21:46:04","modified_gmt":"2024-02-23T21:46:04","slug":"pakistan-to-seek-6bn-in-new-imf-programme","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/pakistan-to-seek-6bn-in-new-imf-programme\/","title":{"rendered":"Pakistan \u2018to seek $6bn in new IMF programme\u2019"},"content":{"rendered":"

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ISLAMABAD: Pakis\u00adtan plans to seek a new loan of at least $6 billion from the International Monetary Fund (IMF) to help the incoming government repay billions in debt due this year, Bloomberg News<\/em> reported<\/a> on Thursday, citing a Pakistani official.<\/p>\n

The country will seek to negotiate an Extended Fund Facility with the IMF, the report said, adding that the talks with the global lender were expe\u00adcted to start in March or April.<\/p>\n

Although a default was averted last summer thanks to a short-term IMF bailout<\/a>, but the programme expires in April and a new government will have to negotiate a long-term arrangement to keep the economy stable.<\/p>\n

The country had to undertake a slew of measures demanded by the IMF, including revising its budget, a hike in its benchmark interest rate, and increases in electricity and natural gas prices.<\/p>\n

The IMF and the caretaker finance minister did not immediately respond to a Reuters<\/em>\u2019 request for com\u00adment on the Bloomberg<\/em> report. The country\u2019s vulnerable<\/a> external position me\u00adans that securing fina\u00adncing from multilateral and bilateral partners will be one of the most urgent issues facing the next government, ratings agency Fitch said on Monday.<\/p>\n

\u201cA new deal is key to the country\u2019s credit profile, and we assume one will be achieved within a few months, but an extended negotiation or failure to secure it would increase external liquidity stress and raise the probability of default,\u201d it said.<\/p>\n

Published in Dawn, February 23rd, 2024<\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

ISLAMABAD: Pakis\u00adtan plans to seek a new loan of at least $6 billion from the International Monetary Fund (IMF) to help the incoming government repay billions in debt due this year, Bloomberg News reported on Thursday, citing a Pakistani official. The country will seek to negotiate an Extended Fund Facility with the IMF, the report […]<\/p>\n","protected":false},"author":2,"featured_media":63663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.dawn.com\/large\/2024\/02\/23094947ac4ef0a.jpg?r=094959","fifu_image_alt":"","footnotes":""},"categories":[192],"tags":[],"class_list":["post-63662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-islamabad-news"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t