Karachi: The State Bank has stated that Pakistan has obtained all financial assurances related to the IMF program, and there will be no further obstacles in securing the program from the International Monetary Fund.
According to a report by private TV channel Geo News, the State Bank’s statement mentioned that Pakistan will present its case this month. During the current fiscal year, Pakistan is set to repay $26.2 billion in debt, while $16.3 billion will be rolled over.
The report further stated that by March, $14.1 billion will be due. The State Bank indicated that by March, $8.3 billion will be rolled over, and the remaining $5.8 billion will be paid in monthly installments ranging from $800 million to $1 billion. Pakistan has settled $4 billion in debt from July to September.
The State Bank of Pakistan added that from July to September, Pakistan repaid $1.7 billion and rolled over $2.3 billion. It is worth noting that the IMF Board meeting is scheduled for September 25, in which the approval of a special loan program for Pakistan is expected.
IMF Director of Communications Julie Kozack has stated that the IMF Board meeting on September 25 is likely to approve the loan program for Pakistan. Pakistan reached a staff-level agreement with the IMF in July.
