The mission chief said there was agreement on the need to secure sufficient financing to support the authorities’ implementation efforts. Highly-placed sources told The Express Tribune that the IMF was seeking confirmation for the total $6 billion loans that Pakistan urgently needs to bridge the external financing gap. Four days ago, Finance Minister Ishaq Dar had requested the IMF to show some flexibility and strike a staff-level deal which, according to him, can pave the way for arranging the rest of the loans. They added if the foreign commercial banks just give an assurance to the IMF, it will be sufficient to strike a deal. On Friday, Finance Minister Ishaq Dar had announced that the United Arab Emirates had given an assurance to the IMF for a $1 billion loan to Islamabad.

Source: The Express Tribune April 16, 2023 14:27 UTC