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NATIONAL

Pakistan's Economic Trajectory: IMF Says Pakistan Seeking Potential Follow-Up Loan Program

IMF Chief Kristalina Georgieva told an event at the Atlantic Council think tank, that Pakistan is successfully completing its existing program with the IMF and its economy was performing somewhat better, with reserves now being built up.

She said Pakistan is in discussions with the International Monetary Fund on a potential follow-up program to its Nine-Month, 3 Billion Dollar stand-by arrangement.

Georgieva added that there is a commitment to continue on this path, and the country is turning to the fund for potentially having a follow-up program," with some flagging issues that the struggling South Asian Nation still needed to address.

Pakistan and the IMF last month reached a staff-level agreement on the second and last review of the 3 Billion Dollar stand-by arrangement.

Both sides have also spoken about negotiating a longer-term bailout and continuing with necessary policy reforms to rein in deficits, build up reserves and manage soaring debt servicing.