PM Imran Khan seeks loans to preservice debts, investments

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Pakistan is seeking loans from the International Monetary Fund (IMF) and friendly countries to reservice debt and shore up its economy, the country’s prime minister Imran Khan said on Tuesday.

“What we are hoping is that we do a bit of both, get a loan from IMF and other loans from friendly governments,” Khan told the audience at Future Investment Initiative in Saudi Arabia’s capital, Riyadh.

Khan, who was elected prime minister in July, is in Saudi Arabia for the second time this month seeking to shore up financial aid as the country reels from a looming balance of payments crisis.

The PM said Pakistan was creating an enabling environment, undertaking tax reforms and setting up a one-window operation to attract foreign investors in diverse areas.