ISLAMABAD, June 10 (Reuters) - Pakistan is working on the possibility of restructuring its bilateral debt regardless of whether it successfully completes its IMF review, the country's finance minister said on Saturday, but reiterated it would not approach Paris club nation creditors or seek haircuts.
The country is grappling with record inflation, fiscal imbalances and critical levels of reserves that cover barely a month worth of imports.
The fiscal deficit for the following fiscal year was projected at 6.54% of GDP, according to the budget.
Dar said on Saturday there was no more room in the budget to reduce the fiscal deficit target by any further.
The government has received commitments of only $4 billion, mainly from Saudi Arabia and the United Arab Emirates.
Persons:
Ishaq Dar, Dar, Gibran Naiyyar Peshimam, Shahid, Charlotte Greenfield, Michael Perry, William Mallard, Frances Kerry
Organizations:
IMF, Pakistan's IMF, United, United Arab Emirates, Thomson
Locations:
ISLAMABAD, Pakistan, Paris, Pakistan's, China, Saudi Arabia, United Arab