Islamabad- On Wednesday, the IMF will start talking with Pakistani officials about the release of important funds.
Pakistan has asked for help from other countries many times because its economy has been hurt by a huge national debt, soaring inflation, and a falling rupee.
Pakistan’s finance ministry said that the talks will take place in Doha, the capital of Qatar and that they are likely to go on into next week.
Costly subsidies, especially for fuel and electricity, are likely to be a big problem, and Finance Minister Miftah Ismail said he wants the two sides to “find a middle ground.”
Imran Khan, Pakistan’s former prime minister, signed a six-billion-dollar IMF bailout package in 2019. However, it has never been fully put into place because his government broke its promises to cut or end some subsidies and to improve revenue and tax collection.
The program has given $3 billion to Islamabad so far, and it will end later this year.
Officials want to keep the program going until June 2023, and they also want the next $1 billion payment to be made.
Pakistani Prime Minister Shehbaz Sharif, who took power with a coalition that ousted Khan in a no-confidence vote last month, has promised to get the sluggish economy moving again, but analysts say his weak government hasn’t made any tough decisions.
