Pakistan Says It’s Shut Out of Bond Markets With IMF Only Resort - BitcoinEthereumNews.com
KabuhayanSinabi ng Pakistan na Isinara Ito sa Mga Market ng Bond Sa IMF Only Resort05 / 29 / 2022Balita ng Ethereum ng Bitcoin (Bloomberg) — Pakistans government is unable to secure funding from the global bond market and commercial banks, making it even more important to secure an agreement with the International Monetary Fund, Finance Minister Miftah Ismail said. Karamihan Basahin mula sa Bloomberg Pakistans dollar bonds, which reached a record low this month, gained on Friday after the government raised fuel prices, a key benchmark for the IMF to resume its loan program. Pakistan is seeking to secure a staff-level agreement with the fund in June. “All roads lead to the IMF,” Ismail said Saturday to a virtual conference. “Saudi Arabia and other countries are all ready to give money, but all of them say we need to go to the IMF first.” Former Prime Minister Imran Khan reduced and froze fuel prices, stalling the $6 billion bailout program. His successor Shehbaz Sharif, who took office in April, baned luxury imports and the central bank raised borrowing costs more than expected this month to deal with all-time high imports. Pakistan needs about $36 billion to $37 billion in financing for the fiscal year starting June,