The International Monetary Fund (IMF) chief Kristalina Georgieva said that Pakistan has not reached default and it is hoped that Pakistan will not reach default, Pakistan will not face a situation like Sri Lanka and Ghana.
Addressing IMF World Bank meeting in Washington, in response to question of well-known Pakistani journalist Ali Khizr, Managing Director of IMF, Kristelina Georgieva, said that it is hoped that Pakistan will successfully complete its current program and extend it to Sri Lanka and Ghana. Such a situation will not have to be faced.
Asked about the risk of Pakistan defaulting, IMF Chief said that Pakistan has not reached that point yet and it is better not to. There is no doubt that Pakistan faces climate challenges but the steps taken by the Pakistani authorities. We are hopeful that we will complete this program successfully, at this time we are talking about securing financial assurances from Pakistan.
He said that Pakistan can complete the program by implementing the issues agreed upon, it is hoped that it will be possible with the goodwill of all of us, Pakistan will remain on the front line of climate change, the future sustainability of agriculture in Pakistan. But one has to think, Pakistan is working hard together with the authorities, Pakistan should create such a policy framework that avoids economic risks.
Pakistan has met all the necessary requirements of International Lender for receiving a $1.1 billion bailout, as announced by the Pakistani government.
Earlier Finance Minister Ishaq Dar claims that, UAE and Saudi Government agreed for a bilateral aid of one billion dollars to the IMF for Pakistan.
He said that the State Bank of Pakistan is now preparing the necessary documents for the said deposit from the Emirati authorities.
Earlier, Federal Minister for Finance Ishaq Dar attended the meeting of IMF/World Bank via Zoom from Islamabad yesterday along with IMF Deputy Managing Director Antoinette Moniso Seh. Finance Minister Senator Ishaq Dar and Antoinette Moniso Seh discussed the steps taken by the Government of Pakistan regarding economic and financial policies.
The Deputy Managing Director of the IMF appreciated the government’s policies and supported the government’s initiatives in various sectors in relation to the implementation of the advance measures agreed with the IMF. They further extended their support to continue working together and expressed confidence in signing a Staff Level Agreement very soon.