Pakistan met IMF conditions for $1.2 Billion loan, says report

Pakistan is seeking funding from the IMF to help the incoming government repay billions of dollars in debt due this year.

Pakistan has met the International Monetary Fund’s requirements for power sector debt and electricity prices, a move that may help the country access the next loan tranche of $1.2 billion, The Express Tribune reported Sunday.

IMF hasn’t yet finalized the dates for the next review talks and is waiting for the formation of the new government, according to the report. (Reuters/File)

The country kept end-December targets related to containing the flow of circular debt below 385 billion rupees, with timely increase in electricity prices, the newspaper cited unidentified Ministry of Energy officials as saying.

Pakistan is seeking funding from the IMF to help the incoming government repay billions of dollars in debt due this year. The organization hasn’t yet finalized the dates for the next review talks and is waiting for the formation of the new government, according to the report.