IMF and Pakistan Advance Towards New Loan Agreement

The IMF mission and Pakistan are progressing towards a staff-level agreement for an extended fund facility. Discussions on a new loan programme follow Pakistan's completion of a $3 billion short-term programme last month, which prevented a sovereign debt default.

An International Monetary Fund (IMF) mission and Pakistan have made significant progress towards reaching a staff-level agreement for an extended fund facility, the lender said on Friday.

The IMF has opened discussions with Pakistan on a new loan programme after Islamabad last month completed a short-term $3 billion programme, which helped stave off a sovereign debt default.

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