Pakistan's finance minister to meet IMF in Geneva, with bailout stalled

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An International Monetary Fund (IMF) delegation will meet Pakistan's finance minister on the sidelines of a conference in Geneva beginning on Jan. 9, a spokesperson of the lender said on Sunday, as Pakistan struggles to restart its bailout programme.

The lender is yet to approve the release of $1.1 billion originally due to be disbursed in November last year, leaving Pakistan with only enough foreign exchange reserves to cover one month's imports.

The conference in Geneva, co-hosted by Prime Minister Shehbaz Sharif and United Nations Secretary General Antonio Guterres, will look to gather international support for the country in the aftermath of devastating floods last year. A plan laying out a timeline and the financing of the rebuilding effort has been a sticking point in talks to clear the ninth review that will release $1.1 billion in IMF funds and unlock other international funding too.

 

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