Pakistan’s finance minister Asad Umar said on Tuesday the International Monetary Fund (IMF) and Islamabad has reached a final bailout package agreement and all issues have been resolved.
According to ANI news reports, Umar was quoted as saying, “We have reached an agreement and all the major issues have been settled and documented.”
While defying alleged reports that the IMF mission has rescheduled its planned visit to Islamabad, Umar said, “The IMF staff mission would visit Islamabad this month to conclude various technical tables that would then be shared with national assembly committee.”
However, the exact size of the bailout package to Pakistan still not decided, but the minister apprised the package would fall between USD 6 billion and USD 8 billion.
While brushing off alleged reports stating the IMF mission has delayed their visit to Pakistan, Umar said such reports were unfounded and surprising because the fund had asked questions on the subject in October last year and all the details of the Chinese assistance have been provided as the Pak’s government felt there was nothing to hide.
The IMF has asked Pakistan to share information over loans the country has received from China, as IMF was currently studying to provide a bailout package to the latter.
During a recent meeting, the IMF has voiced concern over China’s financial assistance to Pakistan. However, Islamabad has assured that there was no overlapping between the CPEC and the IMF bailout package.
Also read:
- IMF asks Pakistan to share information of loans granted by China
- IMF mission’s visit to Pakistan aimed at finalizing deal delays until May
- Pakistan’ Asad Umar hold meetings with World Bank Group, IMF seeking three-year bailout