IMF offers US$12 billion bailout package to Pakistan: sources
ISLAMABAD (92 News) – International Monetary Fund (IMF) offered US$12 billion bailout package to Pakistan on lenient terms for repayment.
As per details garnered, after Saudi Arabia and China now Pakistan is preparing to seek heavy loan from IMF on lenient terms.
According to the sources, the IMF two-member team will arrive in Islamabad for talks regarding financial package on Wednesday. The sources also said that the final negotiations would be held tomorrow between Pakistan and IMF regarding bailout package.
The sources further revealed that the IMF offered to provide US$12 billion bailout package on lenient terms for repayment. According to this financial package, Pakistan will be get discount in the interest rate and repayment time of loans.
“The interest rate is expected to less than 2 per cent and duration for repayment may be more than 15 years,” the sources said. It also said that that the remaining other terms likely to be more lenient, adding that it is likely to be ended the term in which the country has to reveal all the details related to other sources.
However, Pakistan begins nearly two weeks of talks with the IMF on Wednesday over what would be the South Asian country’s 13th IMF bailout since the 1980s to help it end a spiraling current account crisis.