Islamabad: Pakistan hopes to secure nearly USD 22 billion in bailout packages from three international agencies, including the International Monetary Fund (IMF), in the next three years – a news source quoted Finance Minister Asad Umar as saying.
He informed the National Assembly Standing Committee on Finance and Revenue that the federal government and IMF have finalised an agreement to this effect.
An IMF mission is reportedly set to arrive in Islamabad later this month to sort out the technical details of its sanctioned package. Umar said that the total worth of the IMF bailout package would amount between USD 7.5 billion and USD 8 billion.
The agreement finalised between the two parties pertains to resolving Pakistan’s budget deficit, exchange rate management, energy sector, state-owned enterprises, and public finance management.
In addition to the IMF programme, the finance minister stated that Pakistan would receive loans from the World Bank (WB) and the Asian Development Bank (ADB). The two multilateral agencies are expected to issue loans amounting to billions of dollars in the next three years.
