The approval of the $7 billion bailout package by the IMF for Pakistan has been further delayed.
The schedule of the IMF Executive Board till August 30 has been released, the name of Pakistan is not included in the schedule of the IMF Executive Board yet, the Board will consider the applications of 3 countries including Vietnam from August 8 to 30.
Sources say that the approval of the new loan program for Pakistan has been postponed until next month, which is mainly due to the non-timely rollover of 12 billion dollars of loans from friendly countries.
The International Monetary Fund has set a condition for external financing assurances before the meeting, Pakistan has $5 billion in deposits from Saudi Arabia, $4 billion from China and $3 billion from the United Arab Emirates.
The government is trying to roll over 12 billion dollars of deposits, refinancing commercial debt, Pakistan has to make external payments of 26 billion 40 million dollars including commercial debt this year.
