The International Monetary Fund (IMF) has denied recent reports that it is seeking fresh financing from Pakistan, stating that Pakistan’s external financing requirements have remained unchanged throughout talks with the Fund.
The clarification comes after a report by the Express Tribune suggested that the IMF had increased its demand for additional financing to $8 billion, up from an unmet condition of $6 billion, in order to ensure debt repayments for the May-December 2023 period.
According to Reuters, IMF Resident Representative Esther Pérez Ruiz confirmed that the country’s external funding requirements had not changed, and that discussions were centered around a review to unlock $1.1 billion in financing as part of a $6.5 billion IMF package.
Despite ongoing talks, a staff-level agreement on the review has been delayed since November, and the IMF has reiterated that commitments on external financing from friendly countries will be necessary before it can release bailout funds.
Pakistan’s central bank reserves currently stand at $4.38 billion, equivalent to barely a month’s worth of imports.
