WASHINGTON: Pakistan has received financial guarantees from friendly countries, an official of the Washington-based International Monetary Fund (IMF) has revealed, following the approval of a fresh bailout package for the country by the IMF Executive Board, The News reported on Friday.
As per Nathan Porter, the Chief of the IMF Pakistan Mission, Islamabad has received “significant financing assurances” from China, Saudi Arabia, and the United Arab Emirates in relation to the $7 billion Extended Fund Facility (EFF) of the country.
The official stated that the financial guarantees provided by the nations surpass the arrangement to transfer $12 billion in outstanding bilateral loans to these nations.
Virtually speaking, Porter told reporters, “I will not go into the specifics, but UAE, China, and the Kingdom of Saudi Arabia all provided significant financing assurances joined up in this program.”
