Pakistan Seeks $1 Billion from IMF

WASHINGTON (Reuters) – Pakistan is targeting around $1 billion in a formal request for funding from the IMF facility that helps low and middle-income countries manage external shocks, its finance minister told Reuters.

Finance Minister Muhammad Aurangzeb said in an interview on the sidelines of the IMF/World Bank autumn meetings in Washington, "We have formally requested to be considered for this facility."

The International Monetary Fund agreed to a bailout for Pakistan last month, but has further funding available via its Resilience and Sustainability Trust (RST).

The country is also in talks with the Asian Infrastructure Investment Bank for a credit enhancement for a planned Panda bond, with an initial issue of $200-250 million.