The International Monetary Fund (IMF) Executive Board has released its meeting schedule through September 4, notably omitting Pakistan from the agenda. This exclusion represents a setback for Pakistan’s finance ministry, which had been hopeful for approval of a $7 billion bailout package from the IMF.
Sources reveal that the government is working to secure a rollover of $12 billion in loans from key allies, including China, Saudi Arabia, and the United Arab Emirates (UAE). Additionally, Pakistan has requested an extra $1.2 billion loan from Saudi Arabia to address a $2 billion financing gap.
Currently, Pakistan holds $5 billion in cash deposits from Saudi Arabia, $4 billion from China, and $3 billion from the UAE. The country is also burdened with $4.5 billion in commercial debt, primarily owed to China, according to finance ministry sources.
The IMF’s exclusion of Pakistan from its schedule adds uncertainty to the country’s efforts to stabilize its economy amid ongoing financial difficulties.
