• Monday, August 08, 2022

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Pakistan Not Yet Approached for Financial Assistance: IMF

Pakistan’s finance minister Asad Umar said on Monday (8) the government would seek to open talks with the IMF in Bali this week for emergency financial assistance. (Photo: AAMIR QURESHI/AFP/Getty Images).

By: Radhakrishna N S

Pakistan has not yet formally approached the International Monetary Fund (IMF) for financial assistance, but if bailout talks get underway this week, the goal will be to help Pakistan reach its full potential, the IMF’s chief economist said on Tuesday (9). Addressing a news conference at the IMF and World Bank annual meetings in Bali, the IMF’s Maurice Obstfeld cautioned that increased Chinese involvement in Pakistan’s economy could bring both benefits and risks. Obstfeld said Pakistan is facing financing gaps as it has been hit by a large fiscal and current account deficit, a low level of reserves and a…

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