ISLAMABAD – Pakistan is all set to enter into a new loan programme roughly a month after unveiling a budget in light of the guidelines of the International Monetary Fund (IMF), the sources said on Tuesday.
The sources said that within the next two weeks, the officials from the Prime Minister’s Office would initiate discussions with an international lender to finalize a staff-level agreement expected to range between $6 billion to $8 billion.
The sources close to the development disclosed that Pakistan is pushing for an $8 billion deal, though the IMF signaled its willingness to provide $6.5 billion.
Contacts between Pakistani authorities and IMF officials have been frequent over the past three days, underscoring Islamabad’s efforts to secure favorable terms.
The government officials emphasized Pakistan’s commitment to implementing IMF recommendations in its budget for the fiscal year 2024-25, potentially preempting the need for an IMF mission to visit the country for further assessment.
On June 30, the finance minister confirmed ongoing negotiations for a three-year loan programme aimed at securing between $6 billion to $8 billion.
He said it aimed at mitigating the risk of a potential debt default.
