IMF team to visit Pak for bailout talks

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Pakistan's Finance Minister Muhammad Aurangzeb has said that an IMF team is expected to visit Islamabad next month to negotiate a new long-term bailout package to secure a staff-level agreement for the cash-strapped country by mid-July.

Speaking to the media after his week-long visit to Washington, the minister said the contours of the new International Monetary Fund programme will shape up later. "We will start getting into the granularity of the programme by mid-May," Dawn News quoted Aurangzeb as saying.

Cash-strapped Pakistan has made a formal request to the IMF to seek the next bailout package in the range of USD 6 to USD 8 billion with the possibility of augmentation through climate financing.

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