Pakistan Crisis Beggar: ‘Pakistan is not a beggar…’ To whom is the poor Finance Minister of Pakistan giving clarification? – pakistan economic update finance minister of pakistan miftah ismail has said that pakistan is not a beggar but it is a member of imf
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Ishaq Dar said that in view of the political instability, it was decided not to attend the meeting on the request of the Prime Minister. Speaking aggressively on the rumours, Dar said, “Pakistan is a member of the IMF, not a beggar.” He also insisted, ‘IMF cannot prevent me from attending the spring meeting.’ Ishaq Dar was expected to attend the World Bank-IMF spring meeting to be held in Washington from April 10 to 16. During this, he was also to have a meeting with IMF officials.
IMF can save Pakistan from ruin
On Saturday, he said the ninth review of the $7 billion IMF relief program was on track. Pakistan and the International Monetary Fund (IMF) have not been able to reach a staff-level agreement on a $1.1 billion relief package. Having this agreement is very important to save Pakistan from bankruptcy. This amount is part of the $ 6.5 billion relief package that the IMF approved in 2019. Analysts say the package is crucial if Pakistan is to avoid defaulting on external debt obligations.
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Will help come from Saudi Arabia?
In his address to the nation, Dar said the only obstacle in the way of the IMF deal was the confirmation of a deposit of one billion dollars from a friendly country. He said, “In the last two weeks, one of our friendly countries has confirmed financing of two billion dollars to the IMF. Now we are just waiting for confirmation of the commitment of one billion dollars from another friendly country. After that, all their conditions for concluding the Staff Level Agreement will be fulfilled. Thereafter, it takes two weeks to take the matter to the meeting of the Board of Directors of the Monetary Fund. Although Dar did not reveal the name of the friendly funding country, but according to local media reports, Saudi Arabia has shown a commitment to the IMF to help Pakistan.
(with agency inputs)
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