Pakistan Needs New IMF Funds to Repay Old IMF Debt, Baqir Says
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Pakistan’s new government will need to start negotiations early for a new loan package with the International Monetary Fund as the South Asian nation has “significant” payments due to the global lender, former central bank governor Reza Baqir said.
Pakistan has to pay about $7 billion to the IMF in the next five years while its reserves stand at $8 billion, according to Baqir.