Home / World News / Pakistan set to dodge short-term default; political turmoil grows

Pakistan set to dodge short-term default; political turmoil grows

Pakistan needs financial help to deal with "overwhelming" floods, its foreign minister said, adding that he hoped financial institutions such as the IMF would take the economic fallout into account

Premium

Photo: ANI

2 min read Last Updated : Aug 28 2022 | 10:55 PM IST

Pakistan is poised to evade a near-term default amid expectations the International Monetary Fund (IMF) will resume its $6 billion bailout program, but a rally in the nation’s assets may fizzle out amid escalating political tensions.

Columbia Threadneedle Investments, Tellimer Ltd. and Natixis SA predict Pakistan will win a loan approval from the IMF board when it meets on Monday, paving the way for the release of $1.2 billion in immediate funds. Two days later, focus will shift to a court hearing where former premier Imran Khan has been asked to appear as he battles a string of legal troubles.

But Pakistan

Topics : Shehbaz Sharif Pakistan IMF

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in