IMF Postpones Approval of Second Review of USD 6 Billion Bailout Package for Pakistan

The International Monetary Fund (IMF) has postponed the second review of its USD 6 billion bailout package for Pakistan, citing shortcomings in implementing agreed actions from Pakistan's end.

Pakistan had approached the IMF in 2018 for a bailout package to revive its cash strapped economy. The Executive board of the IMF approved the same in June 2019 to assist Pakistan overcome its debt burdens, as well as to fend off a balance of payment crisis, subject to stringent measures. 

In February 2020, Pakistan and the IMF agreed that the fund's Executive board would approve the second review for disbursement of a third tranche of USD 450 million in April 2020, subject to the Government of...