IMF holds unusual talks with Pakistan over US$7b bailout
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IMF mission chief Nathan Porter initiated talks with Pakistan on November 12, 2024, regarding a US$7 billion bailout approved in September. The discussions are considered unusual as they occur before the first review of the Extended Fund Facility (EFF) scheduled for Q1 2025. Key officials, including the heads of Pakistan's central bank and federal board of revenue, participated in the meeting. The agenda includes assessing Pakistan's fiscal deficit, which has a revenue shortfall of nearly 190 billion rupees (US$685 million) for the current fiscal year. An external financing gap of US$2.5 billion needed until June 30, 2025, and issues related to the privatization of state-owned enterprises were also on the table. Finance Minister Muhammad Aurangzeb confirmed that all rollovers of loans from friendly nations have been assured.

#Imf #Pakistan #Bailout #Finance #Economy #Loans #FiscalDeficit #Negotiations #ExtendedFundFacility #StateownedEnterprises

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