Pakistan seeks confirmation from Saudi Arabia on additional deposits to unlock crucial IMF deal

ISLAMABAD: Pakistan is seeking confirmation from Saudi Arabia to secure additional deposits of $2 billion and a $950 million loan from the World Bank and Asian Infrastructure Investment Bank (AIIB) for the signing of a Staff-Level Agreement (SLA) with the International Monetary Fund (IMF) within the coming week, reported The News.
“We are hopeful,” a government official dealing with the IMF replied when asked about the development.
The linked $950 million loan of the World Bank’s Resilient Institution for Sustainable Economy (RISE-II) and AIIB will be approved only if Pakistan secures the IMF bailout.
Another official assured that Pakistan was expecting to strike the SLA with IMF in the next few days, however, the Fund was reluctant to give any time frame for finalizing the agreement.

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