IMF team to visit Pakistan in January to finalise bailout package

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A team of International Monetary Fund (IMF) will visit Pakistan mid January to finalise a possible bailout package, IMF officials told Finance Minister Asad Umar on Wednesday.

Finance Minister Asad Umar briefed the IMF officials over the prices of gas and electricity in a video conference in Islamabad.

The minister informed the IMF officials about the debt on energy sector and the government’s efforts to stop power theft.

Mr Umar assured the IMF that his government will continue to bring reforms into its financial system and implement its policies in all the departments.

In November, Pakistan had formally approached the IMF for a bailout package. An IMF team had visited Pakistan during the same month but left the country without finalising the package.

The IMF had sought details of Chinese debt on Pakistan before processing a request from the government for a bailout package.

“We need to have a complete understanding and absolute transparency about the nature, size and terms of the debt that is bearing on a particular country,” IMF MD Christine Lagarde told reporters in Bali last month.

Article source: https://www.samaa.tv/news/2018/12/imf-team-to-visit-pakistan-in-january-to-finalise-bailout-package/