Pakistan to Seek at Least $6 Billion in New IMF Loan Program.

Pakistan plans to seek a new loan of at least $6 billion from the International Monetary Fund (IMF) to help repay its debt. The country will negotiate an Extended Fund Facility with the IMF, with talks expected to start in March or April. The loan is seen as a priority for the incoming government, as Pakistan faces $25 billion of external debt payments in the next fiscal year. The goals of the IMF program will include ensuring balance of payment and debt sustainability, privatizing state-owned enterprises, and increasing tax revenues. Failure to secure the loan could increase the risk of a debt default. Pakistan has a history of receiving IMF bailout packages, with 23 received since gaining independence in 1947. [Extracted from the article]