Pakistan Finance Minister Ishaq Dar meets US ambassador asking help in reviving IMF loan program
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rapidly depleting reserves
It has been told by Express News that in this meeting held on Wednesday, there was discussion on restoring the loan program of IMF. The loan program of the IMF is on the verge of ending at a time when its foreign exchange reserves are falling rapidly. Dar discussed bilateral issues of mutual interest during his meeting with Blom.
Apart from this, Dar also requested him to help Pakistan in getting the IMF tranche and restore the deal. Meanwhile, PM Shehbaz Sharif has left for France. Here in Paris, he may try to strike a new global financial agreement. Shahbaz can meet IMF Managing Director Kristalina Georgieva here on the sidelines of the summit. PM Shahbaz will be in Paris on 22 and 23 June.
IMF not listening
Shahbaz has spoken to Georgieva on the phone several times. Along with this, three letters have also been written to restore the loan. But still to no avail. Earlier, the cabinet member revealed that the IMF had requested to reduce the amount of new foreign debt from $6 billion but the IMF rejected it. The government is currently left with no other option but to revive the deal.
is there a plan b
Minister of State for Finance Dr. Ayesha Pasha has insisted that returning to the IMF is Pakistan’s only option. He was asked about Plan B in case the positive efforts to negotiate with the IMF fail. To this Dr Pasha said that there was no option but to go back to the IMF. At the moment, he clearly said that he does not have any plan B. He reiterated that the government aims to take the IMF program forward.
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