IMF Chief, Pakistan FM meet as Islamabad seeks a bailout package

Last Updated: Oct 11 2018 18:52

On Thursday, IMF Chief, Christine Lagarde met with Pakistani officials said that a team would visit Islamabad for talks on a possible bailout of its shaky economy.

Pakistan Finance Minister Asad Umar, who is attending the Fund’s annual meeting in Bali, announced earlier this week that the government would seek talks with the IMF on a “stabilisation recovery programme”.

Lagarde earlier Thursday said the IMF had yet to receive anything formal from Islamabad but that she would meet with the Pakistani delegation in Bali.

“During the meeting, they requested financial assistance from the IMF to help address Pakistan’s economic challenges,” Lagarde said in a statement.

“An IMF team will visit Islamabad in the coming weeks to initiate discussions for a possible IMF-supported economic programme.”

On Wednesday, Prime Minister Imran Khan pledged to steer the country out of a looming balance-of-payments crisis, saying it needs $10-12 billion.

“We will get out of this. I will take (the country) out of this,” he said.