Pakistan aims to agree outline of new IMF loan in May

Finance Minister Muhammad Aurangzeb told Reuters that Pakistan has begun negotiations with rating agencies to prepare for a return to the global debt markets and intends to finalise the terms of a new IMF loan in May.
The present $3 billion agreement between Pakistan and the Fund expires in late April, and the minister stated that the government is looking for a longer-term, larger loan to assist ensure macroeconomic stability and provide a framework for carrying out urgently needed structural reforms.
“We anticipate the IMF delegation to arrive in Islamabad by mid-May — at that point, some of these details will begin to take shape,” stated Aurangzeb following his meeting with Kristalina Georgieva, the Fund’s managing director.