Pakistan Seeks $1 Billion IMF Support Under RST

Pakistan's Finance Minister Muhammad Aurangzeb confirmed that the country is requesting $1 billion from the IMF’s Resilience and Sustainability Trust to manage external shocks. Concurrently, Pakistan is negotiating with the Asian Infrastructure Investment Bank to enhance credit for a Panda bond issuance worth $200-250 million.

Pakistan is making strides to secure a $1 billion financial aid package from the International Monetary Fund (IMF) through its Resilience and Sustainability Trust (RST), according to an announcement from the country's Finance Minister Muhammad Aurangzeb. The request is aimed at assisting Pakistan in managing external economic pressures.

This development follows a previous bailout agreement with the IMF, underscoring Pakistan's ongoing efforts to stabilize its economy. Alongside IMF negotiations, Pakistan is also seeking credit enhancement from the Asian Infrastructure Investment Bank for a forthcoming Panda bond issue valued between $200-250 million.

These financial strategies were disclosed during the IMF/World Bank autumn meetings held in Washington, highlighting Pakistan's multifaceted approach to securing foreign investment and financial stability.

(With inputs from agencies.)