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Pakistan FM Asad Umar held meetings with World Bank leaders, seeking bailout


Minister on Wednesday (local time) held meetings with Bank Group and senior officials of the (IMF), in a bid to seek a three-year package.

The delegation led by the minister which included State Bank of Tariq Bajwa, and Noor Ahmed, reached for a two-day meeting.

This comes a day after the IMF in its yearly Economic Outlook reportedly projected that Pakistan's growth may remain at 2.5 per cent till 2024 unless undertakes indispensable economic reforms.

Last year in October, formally requested the IMF for yet another economic assistance package.

The South-Asian nation is going through an economic crisis after the decided to cut off the financial aid to the country in the view of terrorist attacks. The US views Pakistan as a safe haven for the terrorists and insurgents, responsible for the 17-years-old war going on in the neighbouring country

Pentagon, in September, had reportedly cut off aid worth 300 million USD due to the growing concerns regarding the Islamabad's failure to tackle the militants.

In August, the had also slashed the security-oriented financial aid to Pakistan.

Pakistan, however, has sought help from several countries including and as its has been in limbo for a long time.

However, Pakistan secured loans up to USD 6 billion from on the sidelines of the Future Investment Initiative conference in in October.

has been seeking commercial loans of 2 billion USD from has already refused to provide a balance of payment (BoP) support to Pakistan.

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

First Published: Thu, April 11 2019. 11:25 IST