Pakistan reaches ‘agreement in principle’ with IMF over bailout package: Revenue Minister

Pakistan has reached an “agreement in principle” with IMF over bailout package, the country’s state minister for revenue Hammad Azhar said. (Reuters/File Photo)
Updated 15 April 2019

Pakistan reaches ‘agreement in principle’ with IMF over bailout package: Revenue Minister

  • Pakista last year expected to sign up for 13th IMF bailout program since late 1980s
  • Pakistani officials say conditions attached to proposed IMF loans could hurt economic growth

ISLAMABAD: Pakistan has reached an “agreement in principle” with IMF over bailout package, the country’s state minister for revenue said on Monday after the lending body announced arrival of its staff mission in Islamabad later this month.
A mission team from the International Monetary Fund (IMF) will travel to Pakistan this month, the IMF said in a statement.
Hammad Azhar, the minister, said the staff mission’s visit was just aimed at finalizing technical details.
“An agreement in principle has been reached with IMF,” he announced in a tweet, hours after Pakistan’s Finance Minister Asad Umar returned home from Washington where he had meetings with the IMF and World Bank.
Pakistan was last year expected to sign up for its 13th IMF bailout program since the late 1980s but talks ground to a halt, with Pakistani officials saying the conditions attached to the proposed IMF loans could hurt economic growth. (Reporting by Asif Shahzad; Editing by Toby Chopra)


Turkey's coronavirus death toll hits record for seventh day in a row

Updated 29 November 2020

Turkey's coronavirus death toll hits record for seventh day in a row

ISTANBUL: Turkey's daily COVID-19 death toll hit a record high for a seventh consecutive day on Sunday, with 185 fatalities in the last 24 hours, data from the Health Ministry showed.
The number of new cases of coronavirus infections, including asymptomatic ones, fell slightly to 29,281. For four months, Turkey only reported symptomatic cases, but since Wednesday it has reported all cases.
The total number of deaths since the start of the pandemic in March stood at 13,558.