Odds of Pakistan Securing IMF Bailout Are Dimming, Moody’s Says
- Without IMF, nation could default as reserves are very weak
- Rupee, at near a record low, faces downward pressure
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Pakistan is at an increasing risk of failing to restart its $6.7 billion bailout program with the International Monetary Fund, putting the South Asian country closer to a sovereign default, Moody’s Investors Service said.
“There are increasing risks that Pakistan may be unable to complete the IMF program that expires at the end of June,” said Grace Lim, a sovereign analyst with the ratings company in Singapore. “Without an IMF program, Pakistan could default, given its very weak reserves.”