Next IMF loan will be ‘the last’, says Pakistan FM

ISLAMABAD: Pakistan’s finance minister promised on Saturday to finish the country’s reliance on International Monetary Fund bailouts to shore up its shaky economic system, as officers prepare to negotiate a new loan.

Asad Umar’s pledge comes days after Pakistan’s central bank warned inflation may double within the coming 12 months — hitting 7.five% — while the country’s growth goal rate of 6.2% would likely be missed. “This would be the 13th and the closing IMF programme.”

PM Imran Khan’s management has despatched mixed messages over whether Pakistan will enter another IMF programme, with the former cricketer suggesting this week that going to the fund will not be necessary. But Umar spoke in grave terms of the country’s steadiness of fee crisis, which has sparked a depreciation of the rupee and despatched stocks tumbling.

Meanwhile, a staff of the Financial Action Task Force (FATF), the anti-money laundering watchdog, which visited Pakistan from October 8 to October 19, expressed dissatisfaction over Pakistan’s efforts to struggle terror financing.

The staff had visited Islamabad to review the growth made by it on an motion plan agreed in June to handle world issues. It finalised a report with 40 recommendations for de-listing Islamabad from its ‘gray checklist’ from September 2019.
Next IMF loan will be ‘the last’, says Pakistan FM Next IMF loan will be ‘the last’, says Pakistan FM Reviewed by Kailash on October 21, 2018 Rating: 5
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