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Govt to borrow more to repay IMF loan
[Pak Daily Times] Federal Finance Minister Muhammad Ishaq Dar on Saturday warned that facility of loan re-scheduling or moratorium was not available in the IMF, thus non-repayment of loan would be deemed default.Speaking at the National Assembly session, he said the IMF authorities had expressed regret that why such a huge loan for Pakistain was sanctioned in the past as its repayment had become difficult. He mentioned that government needs foreign inflows only for repayment of huge loans obtained by the previous governments. He mentioned it was in the best interest of Pakistain to meet debt repayment obligation on time as facility of loan re-scheduling or moratorium was not available in the IMF, adding non-repayment of loan would mean default. Posted by: Fred 2013-06-23 |
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