Pakistan, IMF yet to reach bailout agreement

• Ministry spokesman says agreement will be signed as soon as a favourable programme is given

Pakistan and the International Monetary Fund (IMF) are yet to reach an agreement over a new loan programme despite a recent contact between the two sides, a local media outlet reported on Friday.

Sources within the Ministry of Finance said that Pakistan once again approached the global lender for the provision of loan, however, the two sides could not reach a consensus.

They said the difference of view between the two sides has reduced, but talks could not yield any results.

It is hoped that matters would be finalised before a meeting of the IMF executive board, the sources said, adding that it has been cleared to the IMF that Pakistan is in no haste to get the new programme.

"An agreement would be signed with the IMF as soon as a favourable programme is given," said a spokesman for the Ministry of Finance, terming the recent talks "positive."

The spokesman further clarified that Pakistan is not getting the IMF programme for the sake of dollars only.