Prime Minister Shehbaz Sharif has directed the Ministry of Finance to ensure that no limitations specified by the International Monetary Fund (IMF) are violated in the next budget, which will be presented on June 9.
According to an informed source, the PM and Finance Minister Ishaq Dar met on Tuesday and expressed optimism that the government will reach an agreement with the IMF.
According to the source, the prime minister was quite enthusiastic about the renewal of the IMF programme during a lengthy phone chat with the IMF’s managing director a week ago.
According to the source, the prime minister was quite enthusiastic about the renewal of the IMF programme during a lengthy phone chat with the IMF’s managing director a week ago.
Shehbaz had phoned IMF Managing Director Kristalina Georgieva to resurrect the stalled $6.5 billion bailout deal.
The meeting between PM Shehbaz and Georgieva came after the finance ministry failed to break the deadlock over loan talks for four months.
According to the source, the prime minister was pleased with his conversation with the IMF’s managing director. At the same conference, Pakistan agreed to disclose budget specifics with the IMF.
According to the source, the IMF MD also hinted at the program’s resumption. For the same reason, PM Shehbaz told Turkish media on Monday that Pakistan was optimistic about reaching an agreement with the IMF this month.
“We remain optimistic that the IMF programme will be implemented.” The IMF’s ninth review will match all terms and circumstances, and we hope to get some good news this month,” he told Anadolu in Ankara.
The prime minister was in Ankara for the inauguration of President Recep Tayyip Erdogan. PM Shehbaz stated that Pakistan had met all requirements.
“Some of those actions are usually met after the board’s approval, but this time the IMF required that those actions be met before the board’s approval, so we have met them,” he was quoted by the Turkish news agency as saying.
