Pakistan needs $100b financing

Pakistan cannot afford the risk of exiting the International Monetary Fund (IMF) programme with $100 billion in external financing requirements in the short to medium term, said Minister of State for Finance Ali Pervaiz Malik. The statement underscores the country's dependency on foreign creditors, which has limited its options and hindered its desire for rapid economic growth due to weakened economic fundamentals. "We have a narrow path from short to medium term due to $100 billion gross external financing needs and cannot be adventurous," said Malik while speaking at a seminar organised by the Pakistan Business Council (PBC)—the representative body of local and foreign manufacturers.