DUBAI, Oct 29: Pakistan is in no danger of defaulting on its debt and is still considering whether to expand on technical help from the International Monetary Fund, State Bank governor said on Wednesday.

Shamshad Akhtar said a technical package would be announced in due course but that the country was still mulling over its options for finding capital to deal with a balance of payments crisis that has rocked its economy.

“We are taking steps to build up the reserves. We are developing a macroeconomic stabilisation package which will help us attract capital flows,” said Akhtar.

“We have a technical engagement with the IMF and in due course a package will be announced,” she said on the sidelines of an Islamic finance meeting in Dubai.

Asked if Pakistan would turn to the IMF, she said “it is under consideration. We have a few plans and we have other options.... There will be no default by Pakistan.”

Pakistan has just a few weeks to raise billions of dollars in foreign loans needed to meet debt payments and pay for imports.—Reuters