ISLAMABAD: Confirming reports that Pakistan has formally approached the International Monetary Fund (IMF) for financial assistance, its managing director, Christine Lagarde, said on Thursday that a decision on the matter will be taken after more talks next week.
“Today, I met with Pakistan’s Minister of Finance, Revenue and Economic Affairs, Asad Umar, Governor of the State Bank of Pakistan Tariq Bajwa, and members of their economic team. During the meeting, they requested financial assistance from the IMF to help address Pakistan’s economic challenges," Lagarde said during a meeting of the IMF and World Bank officials’ in Bali, Indonesia.
“An IMF team will visit Islamabad in the coming weeks to initiate discussions for a possible IMF-supported economic program. We look forward to our continuing partnership,” she added.
Umar is currently in Indonesia to attend the annual meeting of the IMF and World Bank from October 12 to 14.
Pakistan had earlier said that it may need to return to the IMF for a bailout package to address its mounting financial crisis but was considering the option of approaching friendly countries first.
