Pak pleads US to help facilitate IMF loan amid major crisis
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New Delhi: A cash strapped Pakistan has turned to the US for help in order to keep the boat afloat.
The decision comes after understanding that a loan from International Monetary Fund ( IMF) could cause a surge in the prices of essential items in the nation.
Pakistan's Finance Minister Ishaq Dar reportedly requested a visiting US delegation to convince the Washington-based lender to step in for helping the nation.
Dawn further reported Ishaq Dar as saying that the delegation must also understand the challenges from floods and other external factors in the country.
While requesting leniency towards Pakistan, Dar vowed to honour all international commitments alongside taking touch decisions for economic stability in the nation.
The move comes just as Pakistan is waiting the results of the ninth review of an IMF loan agreement, signed by the previous administration.
The evaluation could lead to releasing the pending next installment of funding for the nation held up since September.
In August 2022, the IMF approved the seventh and eighth reviews of Pakistan's bailout program agreed in 2019 which was to allocate more than USD 1.1 billion, according to reports.
The IMF is expressly willing to help Pakistan, however the international agency wants the nation to follow conditions it has put forward.