Home / Politics / Next IMF loan will be 'the last', says Pakistan FM | India News

Next IMF loan will be 'the last', says Pakistan FM | India News

ISLAMABAD: Pakistan's finance minister promised on Saturday to the country's reliance on International Monetary Fund bailouts to shore up its shaky economy, as officials prepare to negotiate a new loan.

Asad Umar's pledge comes after Pakistan's central bank warned inflation could double in the coming year – hitting 7.5% – while the country's growth target rate would be 6.2%. "This will be the 13th and the last IMF program."

PM Imran Khan's administration has mixed messages over whether Pakistan will enter into another IMF program, with the former becoming necessary. But Umar spoke in serious terms of the country's balance of payment crisis, which has sparked a depreciation of the rupee and feels stocks tumbling.

Meanwhile, a team of the Financial Action Task Force (FATF), the anti-money laundering watchdog, which visited Pakistan from October 8 to October 19, expressed dissatisfaction over Pakistan's efforts to combat terror financing.

The team had visited Islamabad to address the progress made by it on an action plan agreed in June to address global concerns. It is finalized with 40 recommendations for listing Islamabad from its 'gray list' from September 2019.

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