Pakistan, Sri Lanka Close in on IMF Deals After Raising Taxes
- Pakistan minister sees credit line unfreezing “any day now”
- Sri Lanka has completed tasks set by the IMF, president says
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Pakistan and Sri Lanka are getting close to securing bailouts from the International Monetary Fund after taking a series of steps including tax increases to boost their beleaguered economies.
Pakistan has taken all the measures needed to unfreeze a $6.5 billion credit line and expects to clinch the deal “any day now,” Commerce Minister Syed Naveed Qamar said in an interview in Washington Tuesday. Sri Lanka has completed a list of 15 tasks assigned by the lender to clinch a $2.9 billion loan program, according to President Ranil Wickremesinghe.