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Pak asks US to persuade IMF for easier terms for package revival: Report




Pak asks US to persuade IMF for easier terms for package revival: Report

IMF has refused to send its team for the ninth review of the $6 billion bailout package given to Pakistan.


Cash-strapped Pakistan has urged the US to use diplomatic influence to convince the IMF to show a lenient attitude towards Islamabad, a media report said on Thursday.

Finance Minister Ishaq Dar made the request in his meeting with Robert Kaproth, Deputy Assistant Secretary of the Treasury Department for Asia, at the Department of Finance on Wednesday, The News International reported.

Pakistan and the International Monetary Fund (IMF) continued to exchange data this week, but the Washington-based global lender is yet to show any relenting attitude or ease its tough conditions, the paper reported citing sources. Is.

One of the bones of contention is the persistent difference of opinion on the approach to dealing with the exchange rate as the IMF considers it completely unacceptable to maintain an artificially stable exchange rate.

Although Prime Minister Shehbaz Sharif had publicly announced that the government was ready to implement all of the IMF’s conditions to revive the IMF program, reports stated that the government was now politically determined to implement tougher conditions. was finding it difficult to

When contacted, a senior Finance Department official said the talks were continuing in a positive manner, reported the paper.

The IMF has refused to send its team for the ninth review of the USD 6 billion bailout package, which would help Pakistan get more funds under the package.

Separately, an official announcement said that Dar welcomed Kaproth, and briefed him on the country’s economic outlook and conveyed to him that the government inherited a weak economic legacy and needed to initiate reforms in all sectors. Focusing on getting things done right.

He said that due to the practical measures taken by the government, the country is destined for progress and development.

The Finance Minister also apprised him of the government’s economic priorities including bringing the economy back on the right track while fulfilling international obligations.

Dar also shared with Kaproth the damage caused by the floods in Pakistan and its impact on the country’s economy.

He asserted that the government is tackling all the challenges with full commitment.

Kaproth underlined the good relations between Pakistan and the US and expressed confidence in the government’s policies and programs for economic and financial stability.

They also extended support and cooperation on economic and financial issues.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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