All conditions met, no hindrance to deal with IMF: Pak PM

Pakistan Prime Minister Shehbaz Sharif has said that he hoped the country could sign a staff-level agreement with the IMF to secure the stalled bailout package. He said that Pakistan has fulfilled all the conditions required for the settlement with the global lender. Sharif’s comments come at a time when many believe that the chances of reviving the current $6.5 billion IMF bailout program are slim. This agreement expires on June 30.

The International Monetary Fund (IMF) is yet to disburse $2.6 billion of the $6.5 billion package. Sharif said at a function here on Sunday that there was still hope of completing that deal with the global lender. Referring to the government’s plan, he said, “If there is further delay in the agreement with the IMF, I will let you know about it.” The IMF had signed an agreement in 2019 to provide a $6 billion loan to Pakistan on meeting certain conditions.

Sharif said Pakistan has fulfilled all the pre-conditions and it is expected that the agreement with the IMF will be signed this month. He said, there is no need to panic… We have fulfilled all the conditions of the IMF. Obstacles in finalizing the agreement have been removed. The agreement will be done this month itself. He also said that there is no longer any obstacle in signing a staff-level agreement between Pakistan and the IMF. Holding the previous government responsible for the ongoing economic crisis in Pakistan, he said that the Pakistan Tehreek-e-Insaf (PTI) government of former Prime Minister Imran Khan violated the agreement with the IMF.

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