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Pakistan approaches IMF for financial assistance

ANI  |  Bali [Indonesia] 

(IMF) on Thursday confirmed that has formally approached the IMF seeking financial assistance to address its economic challenges.

met Pakistan's Minister of Finance, Revenue and Economic Affairs, Asad Umar, of the State Bank of and members of their economic team.

"Today, I met with Pakistan's Minister of Finance, Revenue and Economic Affairs Asad Umar, of the State Bank of and members of their economic team. During the meeting, they requested financial assistance from the IMF to help address Pakistan's economic challenges," revealed in a statement.

She further said that an IMF team will visit in the coming week to initiate discussions for a possible economic programme. "An IMF team will visit in the coming weeks to initiate discussions for a possible IMF-supported economic programme. We look forward to our continuing partnership," Lagarde added.

Pakistan's has been in a limbo for long. It was already speculated that Pakistan would have to seek a loan package from IMF following the elections which were held on July 25.

will be seeking a loan package from the fund for the second time since 2013.

In June, in a press conference in Islamabad revealed that the government will be seeking financial help from the IMF in order to balance the deficit gap of USD 25 billion.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, October 11 2018. 19:05 IST
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