• Pakistan to seek IMF loan to avert meltdown

    9 days ago - By Chron

    ISLAMABAD - Pakistan says it will seek a bailout loan from the International Monetary Fund to address a mounting balance of payments crisis, Finance Minister Asad Umar said Monday.
    Umar said he will hold talks with IMF officials later this month.
    Analysts say Pakistan hopes to secure $8 billion in loans to avoid an economic meltdown. It also wants fresh loans from China, which has already invested heavily in roads and the energy sector.
    After a visit last week, the IMF issued a report saying Pakistan is facing significant economic challenges, with declining growth, high fiscal and current...
    Read more ...