Loan repayments may obliged Pakistan to seek IMF bailout

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With the high payment of around $5 billion coming in upcoming months, Pakistan may be obliged to take the International Monetary Fund or IMF bailout.

According to sources, repayment of over $700 million will be made  from January-June 2019, that includes around $500 million principal amount and over $200 million interest payment. Bilateral repayments are also projected at over $1.2 billion.

Earlier, Economic Affairs Division revealed that the Pakistani government took $2.3 billion loan in July-December period of fiscal year 2018-19. In the first 6 months of ongoing fiscal year, the govt took $500 million from commercial banks, and $836 million from China.

In addition, they also borrowed $272 million from the Islamic Development Bank and $339 million in loans from the Asian Development Bank. In the same time period during 2017, the borrowing was at $5.9 billion through the external sources.

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