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situation report

Feb 11, 2019 | 16:50 GMT

1 min read

Pakistan: Prime Minister Meets With IMF's Lagarde to Discuss Bailout

What Happened: Pakistani Prime Minister Imran Khan has met with International Monetary Fund (IMF) Managing Director Christine Lagarde on the sidelines of the World Government Summit in Dubai to discuss Pakistan's ongoing interest in a bailout package, The Express Tribune reported Feb. 11.

Why It Matters: Pakistan has been involved in talks with the IMF for a potential bailout package despite receiving support from Saudi Arabia and the United Arab Emirates to target its mounting debt. Islamabad remains in need of funding to shore up its foreign exchange reserves to avoid defaulting on its debt obligations.

Background: Pakistan initiated talks with the IMF to secure a bailout package, although talks between both sides have been inconclusive.

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