Pakistan and the International Monetary Fund are discussing a $2.5 billion "standby arrangement" of six to nine months, the Dawn newspaper reported on June 28, quoting an unnamed official. The fund would cover the remaining amount of a $6.5 billion bailout agreement signed in 2019, of which $4 billion have been released so far, and which expires on June 30. “The IMF team continues discussions with Pakistani authorities with the aim of quickly reaching an agreement on financial support from the IMF,” the lender’s mission chief for Pakistan, Nathan Porter, said in a statement. To read the original story by Dawn, click here.
Pakistan, IMF Reportedly Weighing $2.5 Billion Standby Arrangement
A vendor arranges a price sign at a market in Karachi, Pakistan, on June 26.