
The Asian Development Bank's country director, Werner Liepach, also told Reuters in an interview Pakistan will need up to $9 billion from the IMF to cushion the economy.
Pakistan currently has enough hard currency to cover about two months of imports. Asked if Pakistan, a key US ally, was in a balance of payments crisis, Liepach said:
"It depends how you define a crisis. Maybe we are already in a crisis."
In 2008, Pakistan averted a balance of payments problem by securing an $11 billion IMF loan package. The IMF suspended the programme in 2011 after economic and reform targets were missed. Some analysts have since warned about the prospect of a new balance of payments crisis.
Werner predicted Pakistan would have to go back to the IMF for another bailout to avert a new crisis, this time an amount of up to $9 billion.
The ADB, along with the IMF, has been pushing Pakistan's government to carry out politically-sensitive reforms to strengthen the economy and widen the country's revenue base.
The country owes the IMF just over $6.2 billion. It is due for a big repayment in the first six months of 2013, a schedule that will strain reserves and may accelerate the slide of the rupee currency.
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