“There are increasing risks that Pakistan may be unable to complete the IMF programme that expires at the end of June,” said Grace Lim, a sovereign analyst with the rating company in Singapore. “Without an IMF programme, Pakistan could default, given its very weak reserves." The country is making a final effort to revive its IMF programme, with a financing gap of $2 billion and exchange-rate policy among the biggest hurdles. Pakistan faces about $23 billion of external debt payments for the fiscal year 2024, which begins in July. A day earlier, The Express Tribune reported Finance Minister Ishaq Dar held a virtual meeting with IMF Mission Chief Nathan Porter on Tuesday in a last-ditch effort to secure the IMF programme.

Source: The Express Tribune June 14, 2023 12:25 UTC