IMF, Pakistan make significant progress on new loan, IMF mission says

$Image used for illustrative purpose. Pakistan\\'s national flag flatters during a ceremony to celebrate Pakistan\\'s 75th Independence Day, at the Mausoleum of Muhammad Ali Jinnah in Karachi, Pakistan August 14, 2022. REUTERS/Akhtar Soomro. REUTERS$

Image used for illustrative purpose. Pakistan's national flag flatters during a ceremony to celebrate Pakistan's 75th Independence Day, at the Mausoleum of Muhammad Ali Jinnah in Karachi, Pakistan August 14, 2022. REUTERS/Akhtar Soomro. REUTERS

IMF has opened discussions with Pakistan on a new loan programme

Sudipto Ganguly, Reuters News

May 24, 2024

PHOTO
Image used for illustrative purpose. Pakistan's national flag flatters during a ceremony to celebrate Pakistan's 75th Independence Day, at the Mausoleum of Muhammad Ali Jinnah in Karachi, Pakistan August 14, 2022. REUTERS/Akhtar Soomro. REUTERS

ISLAMABAD: An International Monetary Fund (IMF) mission and Pakistan have made significant progress towards reaching a staff-level agreement for an extended fund facility, the lender said on Friday.

The IMF has opened discussions with Pakistan on a new loan programme after Islamabad last month completed a short-term $3 billion programme, which helped stave off a sovereign debt default. (Reporting by Sudipto Ganguly in Mumbai, editing by Kim Coghill)

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