Monday , June 1 2020

IMF team arrives in Pakistan and discuss possible IMF bailout package.

IMF Managing Director Christina Lagarde and Finance Minister Asad Umar meet on the sidelines of the IMF and World Bank annual meetings in Bali. ─ Photo courtesy IMF Twitter

 

An International Monetary Fund (IMF) team just arrived in Islamabad on Wednesday. The purpose of visit is talks on a possible bailout package. Although Pakistan has got over immediate balance of payment but still it needed money to cater its citizens.

Right after Imran Khan returned from official visit of China. Asad Umer told that together the packages given by Saudi Arabia and China meant that Pakistan’s immediate financial crisis are over.

The total gap was of $12 billion, $6 billion came from Saudi Arabia and rest came from China. Asad Umer briefed media about the financial situations.

Finance Minister said Pakistan still needs to seek government’s long-term economic planning.

State Bank of Pakistan is scheduled to attend meeting with Chinese officials on Friday.

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