Pakistan Needs Additional Financing to Succeed in 9th Review, IMF
Pakistan has pledged not to implement a cross-subsidy program, government will also not introduce new tax breaks and allow a long-term market-based exchange rate for rupee, spokesperson said
Contrary to Finance Minister Ishaq Dar’s claims, IMF has declared significant additional financing as indispensable for successful completion of 9th review of Pakistan’s bailout package.
IMF has said that Pakistan needs significant additional financing to successfully complete long-overdue sixth review of International Monetary Fund’s bailout package.
At a press conference on Thursday, IMF spokeswoman Julie Kozek said that commitments for “significant additional financing” are necessary before IMF approves release of pending bailout funds.
He said that funds are critical for Pakistan to address acute balance of payments crisis, and welcomed financial assistance provided by Pakistan’s external partners so far. He said that our team is definitely very busy with Pakistani authorities, because Pakistan is really facing a very difficult situation.
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Julie Kozek added that Pakistan’s economy is stagnant, has huge financial needs, and has been hit by several shocks, including severe floods.
An IMF spokesperson told Bloomberg News that Pakistan has committed to not implementing a cross-subsidy program. IMF told Bloomberg on Thursday that government will not introduce new tax breaks and a market for rupee. will allow long-term exchange rates based on
It should be noted that Finance Minister Ishaq Dar said in an informal conversation with media yesterday that IMF should do the agreement if it wants to do it, but if it doesn’t want to do it, then don’t do it, but we can’t take any more difficult decisions on its demand.
In Islamabad, Finance Minister Ishaq Dar while talking informally to media said that International Monetary Fund (IMF) has taken the previous measures, but they can no longer do so.
Finance Minister Ishaq Dar said that there is a plan for external payments of 3.7 billion dollars in May and June, there is no problem in the payments of 3.7 billion, it is hoped that China will roll over another 2.4 billion dollars of Pakistan’s debt.
