Race against time, PM and Finance Minister trying hard to revive IMF program

Prime Minister Shahbaz Sharif and Finance Minister Ishaq Dar have started working hard to complete the 9th review of the IMF, the ongoing program of the IMF is fast approaching its deadline. Economic analysts say that if the IMF bailout package is not approved by June 30, Pakistan can default at any time.

According to details, Prime Minister Shehbaz Sharif has left for an official visit to France, where he is expected to meet the Managing Director of the IMF, Kristalina Georgieva.

On the other hand, Finance Minister Ishaq Dar met US Ambassador Donald Bloom on Wednesday to seek help in reviving the stalled IMF program.

Sources say Ishaq Dar has asked US Ambassador Donald Bloom to play his role in reviving the International Monetary Fund’s bailout program, the latest installment of which has stalled due to lack of agreement at staff levels. It’s overdue.

The current IMF program is fast approaching its deadline and the government is scrambling to get things back on track, with the government reaching out to foreign countries, particularly the United States.

It should be noted that yesterday Finance Minister Ishaq Dar had a virtual meeting with the British High Commissioner, and appealed for help to revive the IMF program.

Finance Minister Ishaq Dar briefed the British High Commissioner about the delay in the agreement and the current economic situation in Pakistan.

On this occasion, the British High Commissioner assured the Finance Minister of his support for the completion of the agreement with the IMF. He said that he would discuss with the IMF director to revive the program.

It may be noted that the IMF has also asked the government of Pakistan to provide guarantees that it will be able to get money from friendly countries before issuing its bailout. Meanwhile, Ishaq Dar claimed that the government has fulfilled all IMF conditions, including new taxes worth Rs 170 billion.