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Pakistan seeks $1.4bn IMF loan to counter coronavirus – adviser

Pakistan seeks $1.4bn IMF loan to counter coronavirus – adviser

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, according to government finance adviser Abdul Hafeez Shaikh.

Pakistan will also be seeking more support from the World Bank and the Asian Development Bank, Shaikh said on Wednesday.

“This 1.4 billion we are asking will be a low cost fast disbursing loan,” he told reporters in Islamabad.

The IMF agreed to a $6 billion financial aid program for Pakistan last year, Reuters reported.