Finance Minister Asad Umar said that the International Monetary Fund or IMF loan is finalized as the talks between both sides were finalized.
IMF loan to Pakistan is now finalized and will be around $6 to 8 billion, as revealed by Finance Minister Asad Umar. He said that while briefing the National Assembly’s Standing Committee on Finance, Revenue and Economic Affairs chaired by Faizullah Kamoka. He further added that the talks with the World Bank and IMF were positive. However, Pakistan will receive the funds from the Asian Development Bank and World Bank.
On the other side, External account pressure reduced Pakistan’s international reserves to $6.6 billion by mid-January 2019, but with short-term financing from Saudi Arabia, the United Arab Emirates and China, foreign reserves increased to $10.5 billion at the end of March.
Finance Minister Asad Umar told the committee that an IMF mission will visit Islamabad during the last week of April, which is when the bailout package amount will be finalized.