By Gateway HouseBy Amit Bhandari*Since the beginning of 2023, Pakistani politicians have repeatedly asserted that a ‘deal’ with the IMF is anywhere from days to weeks away. However, earlier this week, the IMF rejected Pakistan’s request for a loan, as per Pakistani media reports[1]. Pakistan is close to defaulting on its international loans, with official forex reserves of $4.09 billion, enough to cover a month of imports. These numbers indicate a financial emergency, but Pakistan seems to be in no rush to close a deal with the IMF. “Govt Scrambles as IMF Rejects Pakistan’s Loan Request” The Express Tribune, June 2, 2023. https://tribune.com.pk/story/2419796/govt-scrambles-as-imf-rejects-pakistans-loan-request[2] SPA.

Source: The Express Tribune June 14, 2023 04:57 UTC