Pakistan refuses to accept ‘tough conditions’ of IMF for bailout

ISLAMABAD (92 News) – An International Monetary Fund (IMF) team concluded its visit to Pakistan without finalizing a possible bailout as the government on Tuesday refused to accept ‘tough conditions’ for financial package. According to the details, the IMF mission held extensive talks with Pakistani officials during the visit, which began on November 7. Pakistan refused the IMF for devaluing rupee against dollar. Pakistan also rejected the demand of IMF for revealing financial details of economic cooperation with China. Moreover, Pakistan has refused to accept demands of an increase in tax rate and electricity prices by the IMF in the first round of talks for a financial bailout that ended today. It was reported that the delegation agreed that Pakistan will not cross certain red lines and share information beyond that. The second round will begin when the IMF returns to Pakistan on January 15.