Pakistan Faces Tough Economic Reforms to Secure New IMF Bailout
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Pakistan will need another long-term IMF program and will have to increase electricity and gas prices as part of bailout conditions.
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Economic stability is described as "fragile" with high external sector risks.
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Pakistan has postponed plan to float $1.5 billion Eurobonds due to high interest rates.
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Circular debt has increased to 4% of GDP, so gas and electricity prices will have to be adjusted.
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IMF board approval will release $700 million tranche, unlocking $1.6 billion in total funding.