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Announcement of receiving $4 billion financial aid

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.

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. 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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