The International Monetary Fund (IMF) wants “friendly” countries to honor their funding commitments before lenders approve a $6.5 billion bailout program, Pakistan said. This situation at the IMF has caused delays in concluding negotiations, Pakistan’s Finance Minister Ishak Dar told the country’s upper house of parliament.
IMF-Pakistan Agreement: Participants stand near the IMF logo. (Reuters)
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Some countries have pledged to help Pakistan during the IMF review, the country’s finance minister added, adding that the IMF is “seeking to actually complete and deliver on those commitments.”
The Pakistani government has completed all of the IMF’s demands, he said, adding that the country is taking tough measures including higher taxes, energy prices and interest rates. The finance minister did not name the countries that have pledged to Pakistan, Saudi Arabia, the United Arab Emirates, Qatar and China, but has helped the countries in recent months by carrying over debts and lending dollar deposits and oil credits. It’s here.
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Earlier this month, the Industrial and Commercial Bank of China gave Pakistan $500 million, the first installment of a $1.3 billion loan.
This came amid political uncertainty in the country as the government led by Prime Minister Shebaz Sharif became less popular and held the blame for the economic crisis on the prime minister while supporting Imran Khan. does not show that political uncertainty is causing delays in resuming relief measures. Shebaz Sharif said earlier this week that he had “accepted all the very stringent conditions set by the IMF.”
