|25 March, 2020

Pakistan seeks $1.4bln IMF loan to counter coronavirus - government adviser

Pakistan will also be seeking more suport from World Bank and Asian Development Bank, Sheikh added.

International Monetary Fund (IMF) logo is seen outside its headquarters in Washington, September 4, 2018. Image used for illustrative purpose.

International Monetary Fund (IMF) logo is seen outside its headquarters in Washington, September 4, 2018. Image used for illustrative purpose.

REUTERS/Yuri Gripas

ISLAMABAD- Pakistan is seeking another $1.4 billion loan from the International Monetary Fund (IMF) to help it deal with the economic slowdown from the coronavirus, government finance adviser Abdul Hafeez Shaikh said on Wednesday .

Pakistan will also be seeking more suport from World Bank and Asian Development Bank, Sheikh added.

"This 1.4 billion we are asking will be a low cost fast disbursing loan," he told a news conference in Islamabad.

The IMF agreed to a $6 billion financial aid programme for Pakistan last year.

(Reporting by Asif Shahzad; Editing by Andrew Heavens) ((asif.shahzad@thomsonreuters.com; +923018463683;))

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