Pakistan set to initiate ‘difficult’ IMF talks

WASHINGTON: The country’s debt burden will feature prominently in talks as Pakistan engages with the International Monetary Fund (IMF) later this month to seek assistance in boosting its ailing economy. The first such engagement, expected this month, will focus on the release of the final tranche of the expiring $3 billion loan package. Pakistan will initiate another round of talks for a new three-year arrangement worth $6bn. In a statement earlier this week, the IMF conveyed its interest in opening talks with the country’s new government on both packages. The inaugural foreign task for Pakistan’s incoming finance minister, upon appointment, will involve representing the country at the IMF and World Bank’s annual spring meetings next month.