WASHINGTON: Pakistan will have no trouble repaying a loan from the International Monetary Fund, its finance minister said on Monday, even though the country's economy has been hurt by heavy rains and floods.
"I think that there is no danger or threat of Pakistan not having the funds to pay back the IMF," Abdul Hafeez Shaikh told reporters at an event in Washington.
"It's not even an issue that is a concern for us at this point," he said after attending the IMF, World Bank meetings over the weekend.
The IMF has help prop up Pakistan's economy with an $11 billion loan, of which the country has received $8 billion.
Although the loan package ends Sept. 30, Pakistan does not plan on seeking the remaining funds because it has enough foreign exchange reserves. "Pakistan's reserves are higher than they would have been," Shaikh said.
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