Pakistan is seeking to diversify its financing options by purchasing a stake in the New Development Bank and seeking BRICS membership to reduce dependence on the IMF.
1 report, 1 independent
Updated Sep 11
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What happened
Pakistan is seeking to diversify its financing options by purchasing a stake in the New Development Bank and seeking BRICS membership to reduce dependence on the IMF.
Who's involved
What this event is mainly aboutKeep exploring
Part of
BRICS, chaired during its 2026 tenure, demanded greater voice and structural reforms within the IMF and World Bank.Also in this story
- BRICS discussions highlighted the limitations of the bloc due to the Iran conflict and compared the size of its bank to the World Bank.
- BRICS calls for major reforms of Western financial institutions, with India acting as a brake on de-dollarization efforts.
- BRICS expands to include Iran and is seeking alternatives to existing global financial institutions.
- While participating in BRICS, Malaysia has voiced support for reviewing the IMF and World Bank, alongside views that the UN system is outdated and unfair.
The entities involved
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Pakistan
sovereign state in South Asia
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BRICS
association of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates
Related events
- Increased financial exposure is needed to support Pakistan's IMF program, which requires assurances from various international partners, including Saudi Arabia and the UAE.
- The Finance Division manages the IMF program in Pakistan, which involves the State Bank of Pakistan.
- Pakistan informed the International Monetary Fund about its revenue target.
- IMF provided resilience financing to Pakistan, with the Middle East region of focus.
- High-level talks confirm the IMF program is underway, focusing on macroeconomic performance and expanding economic cooperation between Pakistan and the US.