Pakistan, IMF strike deal, will receive $6 billion over three years

The technical teams of the Government of Pakistan has struck a deal with the International Monetary Fund (IMF) on a bailout package for about $6 billion over the next three years to meet foreign debt obligations, PM’s Adviser on Finance Dr Abdul Hafeez Shaikh announced on Sunday.

“After months of discussions and negotiations, a staff-level agreement has been reached between Pakistan and the IMF,” he said while speaking on state-run PTV News.

Shaikh revealed that Pakistan would receive $6 billion worth of assistance under the IMF programme over a period of three years. He also added that foreign loans have exceeded $90 billion, and exports have registered a negative growth over the past five years.

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