Exclusive: Pakistan expects IMF deal in next 24 hours, finance minister says

  • 📰 Reuters
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Pakistan's finance minister said a staff level agreement for a crucial bailout deal with the International Monetary Fund was 'very close' and expected in the next 24 hours.

Pakistan's Finance Minister Ishaq Dar is seen after a party meeting in Islamabad, Pakistan September 26, 2017. Picture taken September 26, 2017. REUTERS/Faisal Mahmood/File Photocrucial bailout dealIslamabad is racing against time to unlock at least $1.1 billion under the lender's ninth review of a $6.5-billion Extended Fund Facility agreed in 2019. The programme expires on Friday.

"I think it should come some time tonight or maximum within 24 hours ... We have finalised everything." The source said the staff level agreement was to set to initially unlock around $1.1 billion and then be followed by a "standby agreement" which could release the rest after the programme finishes on Saturday.The agreement, which would be subject to approval by the IMF board, has faced an eight-month delay.

A total of $4 billion have already been released. Dar had earlier told media the government was working on a mechanism to try to unlock the full $2.5 billion pending under the IMF programme.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Exclusive: Pakistan expects IMF deal in next 24 hours - finance ministerPakistan's finance minister said a staff level agreement for a crucial bailout deal with the International Monetary Fund was 'very close' and expected in the next 24 hours.
Source: Reuters - 🏆 2. / 97 Read more »