The government also requested the IMF visiting delegation to review its condition on drastically amending the Pakistan Sovereign Wealth Fund law by end of December. Pakistan assured again that China's Exim Bank would rollover $3.4 billion project debt and Saudi Arabia will provide a $1.2 billion facility. Out of a total $5 billion external financing gap for the 2024-27 periods, $2.5 billion is estimated for this fiscal year. At the time of the $7 billion package, Pakistan had anticipated raising $3.2 billion against the $2.5 billion in debt needs. PSWFThe Pakistani authorities and Alvarez & Marsel give briefing to the IMF about the required amendments in the Pakistan Sovereign Wealth Fund Act.

Source: The Express Tribune November 14, 2024 10:42 UTC