IMF and Pakistan to hold decisive talks on bailout package this month: sources

ISLAMABAD: Pakistan and the International Monetary Fund (IMF) will soon reach to an agreement over the bailout package, sources at the Finance Ministry here said.

The decisive talks on the package are expected as the new mission chief of IMF for Pakistan, Ernesto Ramirez Rigo, is expected to arrive this month on March 26, ARY News reported on Monday.

Ernesto Ramirez Rigo has replaced Herald Finger, the previous mission chief of IMF for Pakistan.

According to the ministry sources, Pakistan could borrow an amount of US$ 12 billion from Pakistan.

Finance Minister Asad Umar had earlier said that talks with the IMF had entered in final stage.

“Pakistan has come closer to reaching an agreement with the IMF as the differences have decreased between Pakistan and the IMF over a possible bailout package,” Umar said while talking to journalists.

Umar, said that the government would further negotiate with the newly appointed IMF mission chief before reaching to an agreement.

The new IMF Mission Chief for Pakistan would hold important meetings with the officials of finance ministry and State Bank of Pakistan to finalize an agreement, the minister said.

The finance minister had earlier said that talks were underway with the lender on a regular basis.