Pakistan may go bankrupt without IMF help, Bloomberg and Moody’s warn
Pakistan hopes to meet external financing requirements for rest of the fiscal year, but Pakistan's financing after June is uncertain, Report
Global rating agency Moody’s and American magazine Bloomberg have warned that Pakistan may go bankrupt without help of IMF.
According to international organizations, Pakistan financing is uncertain after June.
Moody’s and Bloomberg say that Pakistan hopes to meet its external financing needs for rest of the fiscal year, but Pakistan’s financing after June is uncertain.
Report states that Pakistan may go bankrupt due to weak foreign exchange reserves. It should be noted that last week IMF mission chief for Pakistan, Nathan Porter, issued a statement on the ongoing negotiations between Pakistan and the International Monetary Fund.
IMF mission chief said that while working with Pakistan on the Ninety Review, the necessary reforms to complete the review are being reviewed.
Nathan Porter said that the successful completion of the Ninth Review will allow necessary financing for Pakistan and the success of the Ninth Review will lead to a staff-level agreement.
