Pakistan unlikely to get IMF bailout by Jan 15

Prime News, International (Islamabad), December 7:- Cash-strapped Pakistan’s quest for an $8 billion bailout package from the International Monetary Fund (IMF) by January 15 might not be successful as the global lender wants the government to adopt tougher measures to address the external sector imbalances before sending the country’s case to its Executive Board, a media report said today.

The Express Tribune, quoting sources in the ministry of finance, said the two sides made their first contact on Thursday for the first time since November 20 when they concluded their first round of talks for the bailout package.

Finance Minister Asad Umar and the IMF’s Washington-based mission chief Harald Finger made contact through a video link, the report said. The two sides discussed the developments that took place for three weeks.

Talks between Pakistan and the IMF remained inconclusive last month after both sides could not bridge the gulf on issues like the increase in electricity prices, hike in interest rate, rupee devaluation and tax collection targets. (MR, Inputs: Agencies).

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