The Economist Intelligence Unit (EUI) has warned Pakistan about the bailout package from IMF. The expected finance minister of newly elected PTI government which is in the process of making has hinted to approach IMF for a $ 12 billion loan to plug the gap between rising expenditures and falling revenues. EIU thinks that bailout package will be hard to come by.
Pakistan may fail to convince its international lender of last resort, the International Monetary Fund (IMF) to plug the economy’s widening current account gap, but neighbouring China is likely to help the south Asian country get out of the existing foreign exchange trouble, a top British think-tank said.
“We continue to expect that a bailout package from the IMF will be hard to come by, owing to political resistance from both the US and China,” the Economist Intelligence Unit (EIU) said in a latest report. Pakistan has adopted IMF’s financing programs 14 times since 1980. The last three-year program ($6.6 billion extended fund facility) ended in September 2016”.
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17 November, 2019