Pakistan foreign minister says $6 billion IMF deal is ‘outdated’
2022.05.25 19:56
FILE PHOTO: A woman walks past the International Monetary Fund (IMF) logo at its headquarters in Washington, U.S., May 10, 2018. REUTERS/Yuri Gripas
By Tara Oakes
DAVOS, Switzerland (Reuters) – An ongoing bailout deal between Pakistan and the International Monetary Fund (IMF) is “outdated” given a number of global crises, its Foreign Minister Bilawal Bhutto Zardari said on Wednesday.
“This deal is a pre-COVID deal. It is a pre-Afghanistan fallout deal. It is a pre-Ukrainian crisis deal. It is a pre-inflation deal,” Bhutto Zardari told Reuters on the sidelines of the World Economic Forum in Davos.
Pakistan entered a three-year, $6 billion IMF deal in 2019, but is struggling to implement tough policy commitments. Talks are underway in the Qatari capital of Doha to release funds to stabilise Pakistan’s struggling economy.
