Pakistan Prime Minister Discusses New Loan Program With IMF Chief

Pakistan Prime Minister Shehbaz Sharif discussed a new loan program with IMF Managing Director Kristalina Georgieva on April 28, his office said. Sharif and Georgieva met on the sidelines of the World Economic Forum in Riyadh, Saudi Arabia. Islamabad is seeking a new, larger long-term Extended Fund Facility (EFF) agreement with the fund after a current $3 billion standby arrangement expires this month. "Both sides also discussed Pakistan entering into another IMF program to ensure that the gains made in the past year are consolidated and its economic growth trajectory remains positive," Sharif's office said.