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IMF team will visit Pakistan in January to finalise bailout package

A team of International Monetary Fund (IMF) will make a visit to Pakistan in the mid January, a possible bailout package will be finalized, told IMF officials to Finance Minister Asad Umar on Wednesday.

Finance Minister Asad Umar explained to IMF officials the prices of gas, electricity and other commodities over a video conference call in Islamabad.

The minister highlighted the debt on the energy sector and the measures government is taking to reduce and its recovery from power theft.

Finance minister assure him that government is continuing to bring reforms into the financial systems and implement its policies in all the sectors.

Pakistan formally approached IMF for a possible bailout package in November 2018. IMF team visited Islamabad and negotiations were held but no final package was drafted and they left the country.

“We need to have a complete understanding and absolute transparency about the nature, size and terms of the debt that is bearing on a particular country,” IMF MD Christine Lagarde told media.


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