Finance minister said that several countries are ready to offer help, but first want Islamabad to secure funds from IMF.
Pakistan’s government is unable to secure funding from the global bond market and commercial banks, making it even more important to secure an agreement with the International Monetary Fund, Finance Minister Miftah Ismail said.
Pakistan’s dollar bonds, which reached a record low this month, gained on Friday after the government raised fuel prices, a key benchmark for the IMF to resume its loan program. Pakistan is seeking to secure a staff-level agreement with the fund in June.
“All roads lead to the IMF”, Ismail said Saturday to a virtual conference. “Saudi Arabia and other countries are all ready to give money, but all of them say we need to go to the IMF first”....
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