• Wednesday, May 25, 2022

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Imran Khan says Pakistan to seek IMF bailout despite $6 bln Saudi offer

Imran Khan visited Saudi Arabia last week

By: Sarwar Alam

Prime Minister Imran Khan said Pakistan still plans to seek a bailout from the International Monetary Fund (IMF) despite a Saudi Arabian offer of a $6 billion rescue package, and is in talks with two other “friendly nations” for more loans. Khan secured the Saudi package at a high-profile investment conference in Riyadh that has been boycotted by several other leaders over the killing of a prominent Saudi journalist inside the country’s consulate in Istanbul. In the short-term the Saudi loans will give the economy breathing room but not be enough to fully avert a brewing balance of payments crisis,…

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