Prime minister warns of ‘painful reforms’ at summit
DUBAI, UNITED ARAB EMIRATES | Pakistani Prime Minister Imran Khan said Sunday his nation needed “painful” economic reforms to cut back on its massive debt, just after meeting the head of the International Monetary Fund, signaling the former cricketer may be willing to slash government spending for a bailout.
Mr. Khan made the comments at the World Government Summit in Dubai, which also saw Lebanese Prime Minister Saad Hariri make his own investment pitch for his small country, now struggling through a major economic crisis as one of the world’s most-indebted nations.
Mr. Khan made a point in a sometimes-rambling address to hit repeatedly on the need for economic reforms as IMF chief Christine Lagarde looked on from the audience.
Before taking the stage, Mr. Khan met with Ms. Lagarde. Pakistan has been seeking an $8 billion bailout from the IMF.
Pakistan has about $100 billion in external debts and liabilities, according to the State Bank of Pakistan.