IMF nods $7bn bailout for Pakistan, BUT has 11 new conditions. Details inside
&imwidth=600&imheight=450&format=webp&quality=medium "IMF nods $7bn bailout for Pakistan, BUT has 11 new conditions. Details inside")
File photo for representation Photograph: (AFP)
The conditions came just a day after the IMF on Thursday (Dec 11) released the $1.2 billion as part of its ongoing loan programmes aimed at building climate resilience in Pakistan.
In return for the $7 billion bailout programme to curb corruption, the International Monetary Fund (IMF) listed 11 new conditions for Pakistan. The bailout programme is also for improving governance and identifying leaks in government departments in Islamabad. The conditions came just a day after the IMF on Thursday (Dec 11) released the $1.2 billion as part of its ongoing loan programmes aimed at building climate resilience in Pakistan.
What are the IMF conditions?
The fresh 11 conditions are aimed at mitigating corruption vulnerabilities, bringing more transparency in the government and bureaucracy and ensuring liberalisation of the sugar market.
One of the conditions said that Pakistan has to furnish the details of the assets of high-ranking bureaucrats on the government website by December 2026. This is to bring transparency and identify mismatches between income and assets.
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The Shehbaz Sharif government has also been asked to publish an action plan to curb corruption in 10 identified departments.
The organisation has also asked Pakistan to study in detail the remittance costs and identify bottlenecks to cross-border payments.
