Pakistan repays $260 million to IMF

Payment made to return money Pakistan borrowed under a 2008 bailout package.

Web Desk June 28, 2013
Payment made to return money Pakistan borrowed under a bailout package, signed in November 2008.PHOTO: FILE

ISLAMABAD: The government on Friday paid $260 million to the International Monetary Fund (IMF) as a part of loan repayment, Express News reported.

The fresh payment was made to return money Pakistan borrowed under a bailout package signed in November 2008.

The last IMF repayment of $391 million was made at the end of May.

Heavy debt repayments to the IMF have been putting a dent in the central bank’s reserves, which have declined by nearly 20% in the current fiscal year, putting pressure on the rupee.

An IMF mission is currently in Islamabad to review the county’s ability to pay back its money in addition to negotiating a fresh bailout programme.

Correction: In an earlier version of this story, the amount was erroneously mentioned in rupees. The error is regretted. 


Mirza | 9 years ago | Reply

@truthbetold: I agree with you, to get more and bigger loans it is a no brainier to return smaller amounts. The funny thing is Pakistan has been repaying loans but it did not make this big a news ever. Regards, M

truthbetold | 9 years ago | Reply


"I am surprised to see that pakistan have money to repay imf !!"

It is called creative circular money management! In plain English, the idea is to borrow from Peter to pay Paul.

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