Pakistan to Get $4 Billion Financing from Other Nations
ISLAMABAD, August 05, 2022- This week, Pakistan is expected to receive guarantees from friendly nations of $4 billion additional financing, which will open the door for the restart of the International Monetary Fund (IMF) program.
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Following an agreement with the International Monetary Fund on the resurrection of its bailout package, Pakistan anticipates receiving roughly $4 billion financing from friendly nations. Miftah Ismail, the finance minister, stated during a press conference in Islamabad that Pakistan will get the funds in the form of a loan, cash deposits, stock investments, and oil delivery on a deferred payment basis.
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This week, the IMF worked with Pakistan to resuscitate a funding program after reviewing the country’s economic policy. Pakistan was in danger of defaulting due to its rapidly declining foreign exchange reserves, soaring current account deficit, and inflation.
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