Islamabad, Sep 5: Investment projects under mutual agreements with Saudi Arabia are being negotiated while more talks are ongoing with commercial institutions regarding further lending options, according to Finance Minister Muhammad Aurangzeb.
The International Monetary Fund (IMF) Executive Board will approve the new $7 billion bailout for Pakistan this month, according to Finance Minister Muhammad Aurangzeb.
In a recent interview, Aurangzeb stated that the negotiations with the IMF are almost to an end. Although he recognized that the IMF Executive Board had not yet set a particular approval date, he was optimistic that the $7 billion loan program will be authorized this month.
Additionally, he said that discussions for external finance with the IMF are progressed.
It is important to note that Pakistan has not yet been added to the agenda of the IMF’s executive board meetings, which are set for September 13.
On July 12, the IMF delegation and the Pakistani government came to a staff-level agreement on a 37-month EFF for SDR 5,320 million, or almost USD 7 billion.
