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The finance minister says discussions with IMF will probably start this week.

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The new Finance Minister, Mohammad Aurangzeb, said that Pakistan will probably start talking with the International Monetary Fund (IMF) this week. They’ll ask the IMF for help to improve Pakistan’s struggling economy. The government will send an official request. They hope the discussions will begin soon.

Pakistan wants to get the last part of a $3 billion loan. The government might also ask for a new loan of $6 billion with extra money for dealing with climate issues. Pakistan needs this money to support its economy.

Aurangzeb mentioned that this year will be tough financially for Pakistan. He said it’s time to take action, not just talk.

The former economic advisor of the finance ministry, Dr. Ashfaque Hasan Khan, said that the IMF wants Pakistan to cut its defense spending. He mentioned that India has influence in the IMF and may be pushing for this.

Dr. Khan gave some advice for Pakistan’s negotiators: gradually lower interest rates, stop devaluing the currency, focus on reducing the budget deficit, and prioritize reforms over other policies.

Read more about “The United States is prepared to collaborate with Shehbaz Sharif to progress on common goals and interests.”