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AP-National

IMF to hold crucial talks with Pakistan over release of final $1.1B tranche of $3B bailout

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Published 9:17 AM

By MUNIR AHMED
Associated Press

ISLAMABAD (AP) — Officials say the International Monetary Fund will hold a crucial round of talks with Pakistan’s new government starting this week. The talks are aimed at determining whether Pakistan has met all the requirements to receive the final $1.1 billion tranche of last year’s $3 billion bailout. Officials said Wednesday the five-day talks will be the first under the newly elected government of Prime Minister Shehbaz Sharif, whose advisers have hinted Pakistan may seek a new bailout of up to $8 billion when the current bailout expires this month. It needs the funds to overcome one of the worst economic crises in its history that had raised fears the South Asian nation could default on the payment of foreign debts.

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