Mixed reaction from citizens as Pakistan, IMF commence bailout talks

ISLAMABAD: Pakistan faces a balance of payment challenge despite taking hefty loans from Saudi Arabia, UAE, and China. A three-year US $8 billion bailout package from the International Monetary Fund seems Pakistan’s last resort to avert the looming financial crisis. Officials expect borrowing will “end the spiral of debt dependency” but likely mount pressure on Pakistanis to grapple with inflation and more taxes. Arab News took to the streets of the capital to get public opinion on the IMF program.