The International Monetary Fund said on Tuesday that Pakistan’s capacity to return loans will be assessed, adding that it will consider the details of the previously taken loans before giving new loans, according to a press release.
The IMF said that Pakistan’s record of returning loan installments will also be considered and the executive board will take a decision on giving Pakistan a loan in future.
According to the statement, transparency in an important factor in returning loans. The US is ensuring that the IMF loan is not used for paying back China’s debts, it added.
An IMF team visited Pakistan in November to hold talks, following which Finance Minister Asad Umar said that Pakistan refused to accept demands of an increase in tax rate and electricity prices by the international lender.
The second round of talks will begin when the IMF returns to Pakistan on January 15.
Published in Daily Times, December 19th2018.
