Pakistan could default without IMF package: Moody’s

New York: Pakistan could default without International Monetary Fund (IMF) bailout package, Moody’s independent analyst Grace Lim warned while talking to Bloomberg.

According to the report issued by Bloomberg, Pakistan will pay the debt this running fiscal year as its economic situation will remain unstable till end of June.

However, after June the payment of debt is uncertain for Pakistan.

The reported stated that there are difficulties to restore IMF program due to non-fulfilment of conditions.

It also said that Pakistan is facing the challenge of deficit in foreign reserves.