November 6, 2018 / 2:36 PM / 6 days ago

On eve of IMF talks, Pakistan's FinMin says balance of payments crisis over

ISLAMABAD (Reuters) - Pakistan’s finance minister said on Tuesday his country’s balance of payments crisis was over, a day before a team from the International Monetary Fund (IMF) is due to arrive to discuss a potential aid package.

Asad Umar said a combined $6 billion of Saudi money and promised funds from China would cover a projected $12 billion shortfall in foreign currency to service Pakistan’s debt.

“So, Pakistan’s immediate balance of payment crises is over. That I can tell you categorically that now we don’t have anymore a balance of payment crises,” he told a news briefing, without mentioning the IMF.

Writing by Kay Johnson; editing by John Stonestreet

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