Pakistan expects $3 billion from friendly country due to delay in IMF funding

Pakistan expects $3 billion from friendly country due to delay in IMF funding

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“We continue to discuss with the government on policies to meet the humanitarian and rehabilitation needs of the flood victims while promoting macroeconomic and financial stability,” Esther Perez Ruiz, IMF Resident Representative in Pakistan, said in a statement.

Dar said that Pakistan’s foreign reserves, which have come down to $7.5 billion, will be mobilized in the next two weeks with the help of $3 billion from a friendly country.

This is barely enough for a month’s imports for Pakistan, which is facing a widening current account deficit and balance of payments crisis.

“All requirements have been met for the ninth (IMF) review,” Dar said.

Asked about the delay in a visit by an IMF delegation, Dar said he “didn’t care” and that he did not want to request a visit.

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