In a video message, Finance Minister Asad Umar said that Prime Minister Imran Khan has given his approval for immediate negotiations with the IMF. “The prime minister, after consulting everyone, decided today that we should open talks with the IMF,” Umar said. Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) led government immediately faced an economic crisis when it took charge in August. Finance Minister Asad Umar had then said that foreign reserves needed to be boosted by at least $8 billion. The previous one was Pakistan’s only fund program to have reached completion since it started receiving IMF bailouts in 1988.
Source: Pakistan Today October 08, 2018 16:21 UTC