Pakistan Narrows Funding Gap, Hopes for IMF Loan This Week
- Bailout is crucial to help Pakistan avert a sovereign default
- IMF working with nation on proper market functioning of rupee
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Pakistan is pursuing efforts to secure the remaining $2 billion in external funding gap out of a $6 billion target to revive a long-delayed bailout program with the International Monetary Fund.
The South Asian nation has lined up $4 billion in external financing and hopes to obtain a deal with the lender before it unveils its budget on Friday, the Ministry of Finance in Islamabad said Monday in an emailed response to questions from Bloomberg News.