Pakistan to Seek at Least $6 Billion in New IMF Loan Program
- New government will need funding to avoid debt default
- Incoming PM Shehbaz Sharif was key to IMF loan talks last year
The Parliament building in Islamabad, Pakistan.
Photographer: Asad Zaidi/BloombergThis article is for subscribers only.
Pakistan plans to seek a new loan of at least $6 billion from the International Monetary Fund to help the incoming government repay billions of dollars in debt due this year, according to a Pakistani official.
The South Asian nation will seek to negotiate an Extended Fund Facility with the IMF, the official said, asking not to be identified as the discussions are private. Talks with the Washington-based lender are expected to start in March or April, the person said.