Islamabad: Pakistan, which is facing financial crisis, has said that it is expecting financial assistance of six billion dollars from the International Monetary Fund (IMF) and after that it will not need to go to this multilateral institution again. State Bank of Pakistan (SBP) Governor Raza Bakir made this claim on Tuesday.
Bakir said that the recent structural reforms undertaken under the commitment with the IMF are supporting the booming economy, which will improve the economy. He said that after getting a loan of six billion dollars from the IMF, Pakistan will not need to go back to it (IMF) again. A newspaper has quoted Bakir as saying that our target is to create high reserves of foreign exchange. With that we will not need to go to the IMF again for any other loan program.
The IMF approved the 39-month loan program in July. At that time the first installment of $ 99.14 million was released out of the total loan program of six billion dollars. Baqir was appointed the head of SBP when negotiations with the IMF began. He was then working as IMF chief in Egypt.
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