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Pak, Sri Lanka close in on IMF deals after raising taxes to boost economies

Pakistan has taken all the measures needed to unfreeze a $6.5 billion credit line and expects to clinch the deal "any day now," Commerce Minister Syed Naveed Qamar said in an interview

Pakistan, economy
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Photo: Bloomberg

Eric Martin, Faseeh Mangi and Karl Lester M. Yap | Bloomberg
Pakistan and Sri Lanka are getting close to securing bailouts from the International Monetary Fund after taking a series of steps including tax increases to boost their beleaguered economies.
 
Pakistan has taken all the measures needed to unfreeze a $6.5 billion credit line and expects to clinch the deal “any day now,” Commerce Minister Syed Naveed Qamar said in an interview in Washington Tuesday. Sri Lanka has completed a list of 15 tasks assigned by the lender to clinch a $2.9 billion loan program, according to President Ranil Wickremesinghe.

The IMF funds are crucial to stabilizing Pakistan and Sri Lanka

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First Published: Feb 22 2023 | 10:11 AM IST

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