KARACHI – More trouble for incumbent government as approval of Pakistan’s $7 billion bailout package from the IMF has been delayed further, despite government’s stern measures.
The delay comes amid untimely rollover of a $12 billion loan from friendly countries, which is a requirement set by the global lender.
Islamabad’s request has been not included in IMF Executive Board’s meeting schedule through August 30.
Despite this setback, there remains hope as the IMF board can still add agenda items outside the official schedule. This delay is critical as Pakistan faces significant external payments this year.
The new loan program is expected to span 37 months and provide crucial financial support to stabilize Pakistan’s economy.
