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'Can't survive without another IMF programme': Pakistan PM Sharif says another long-term bailout is inevitable

The comments by Sharif came a day after the IMF said it had agreed to a provisional or staff-level agreement with Islamabad which, if approved by its board, will disburse the last tranche of $1.1 billion under the $3 billion standby arrangement.

Edited By: Ajeet Kumar @Ajeet1994 Islamabad Published on: March 21, 2024 16:59 IST
Pakistan's Prime Minister Shehbaz Sharif
Image Source : REUTERS Pakistan's Prime Minister Shehbaz Sharif

Islamabad: Pakistan's Prime Minister Shehbaz Sharif said on Thursday that a long-term bailout from the International Monetary Fund (MF) was inevitable for the broken economy. Amid the fragile economy, Shehbaz underscored it was impossible to survive without an IMF package.

The comments came a day after the IMF said it had agreed to a provisional or staff-level agreement with Islamabad which, if approved by its board, will disburse the last tranche of $1.1 billion under the $3 billion standby arrangement.

"We hope to get the $1.1 bln IMF tranche next month," he told a meeting in Islamabad which was broadcast live, adding: "The country's economy couldn't survive without yet another IMF program."

This is a developing story. More details will be added.

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