Pakistan is expected to secure $1.2 billion from the IMF. The funds may help ease pressure on the nation’s currency and bonds.
International Monetary Funds board approval will unlock significant additional financing from the IMF and other multilateral and bilateral sources.
Release of funds may well provide a significant confidence boost to the markets.”
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Pakistan’s currency and bonds have been hammered this month.
the specter of political uncertainty delaying IMF support for the nation unnerves investors.
The nation is striving to stave off fears it will follow Sri Lanka into default this year, with the government working to secure billions of dollars from the Washington-based lender and countries like China and Saudi Arabia.
Pakistan may not complete its bailout program with the IMF is on the downside as the government may find it difficult to adopt measures to raise revenue.