The bailout package was finalised during a recent visit by the Pakistani delegation to the United States.
Islamabad (Pakistan Point News – 15th April, 2019) The International Monetary Fund (IMF) bailout package for Pakistan has been finalised.
According to media reports, the IMF bailout package has been finalised for three years.
The bailout package was finalised during a recent visit by the Pakistani delegation to the United States.
Media reports said that a high-level delegation led by Finance Minister Asad Umar met with IMF and World Bank officials on the sidelines of the annual Spring Meeting in Washington where the bailout package was finalised.
The final value of the bailout package would be decided during a visit of the IMF mission to Pakistan soon.
The IMF reportedly did not object to an asset declaration scheme proposed by Pakistan, pointing out that Pakistan had already shared a draft of the proposed scheme with the IMF and the Financial Action Task Force (FATF).
Earlier, Finance Minister Asad Umar said the IMF programme usually lasted for three years and it would disburse loan to Pakistan in three tranches. If the IMF sanctioned $6 billion package, Pakistan would get $2 billion during the current year and in case $9 billion, it would receive $3 billion as first tranche.
He, however, said the IMF's loan amount would not matter. It was important that after the agreement, the world's trust in Pakistan would be restored and it would be able to get more funds from the international bond market, he added.
