AVN 67.10 Increased By ▲ 1.97 (3.02%)
BAFL 29.87 Increased By ▲ 0.17 (0.57%)
BOP 4.07 Decreased By ▼ -0.38 (-8.54%)
CNERGY 3.73 Increased By ▲ 0.10 (2.75%)
DFML 12.25 Decreased By ▼ -0.29 (-2.31%)
DGKC 45.53 Increased By ▲ 0.13 (0.29%)
EPCL 46.99 Decreased By ▼ -0.01 (-0.02%)
FCCL 12.00 Decreased By ▼ -0.20 (-1.64%)
FFL 5.95 Decreased By ▼ -0.08 (-1.33%)
FLYNG 6.11 Decreased By ▼ -0.07 (-1.13%)
GGL 11.90 Increased By ▲ 0.10 (0.85%)
HUBC 68.49 Decreased By ▼ -0.17 (-0.25%)
HUMNL 5.75 Increased By ▲ 0.01 (0.17%)
KAPCO 25.24 Decreased By ▼ -0.01 (-0.04%)
KEL 2.13 Increased By ▲ 0.02 (0.95%)
LOTCHEM 25.43 Decreased By ▼ -0.01 (-0.04%)
MLCF 25.73 Increased By ▲ 0.13 (0.51%)
NETSOL 77.85 Increased By ▲ 0.64 (0.83%)
OGDC 88.09 Increased By ▲ 1.08 (1.24%)
PAEL 11.52 Increased By ▲ 0.31 (2.77%)
PIBTL 4.14 Decreased By ▼ -0.04 (-0.96%)
PPL 68.35 Increased By ▲ 1.83 (2.75%)
PRL 13.22 Increased By ▲ 0.11 (0.84%)
SILK 0.88 Increased By ▲ 0.02 (2.33%)
SNGP 41.72 Increased By ▲ 0.46 (1.11%)
TELE 7.97 Decreased By ▼ -0.10 (-1.24%)
TPLP 15.41 Increased By ▲ 0.16 (1.05%)
TRG 112.73 Increased By ▲ 1.41 (1.27%)
UNITY 14.12 No Change ▼ 0.00 (0%)
WTL 1.22 No Change ▼ 0.00 (0%)
BR100 4,142 Increased By 39.4 (0.96%)
BR30 14,939 Increased By 97.9 (0.66%)
KSE100 40,878 Decreased By -40.5 (-0.1%)
KSE30 15,088 Increased By 44.9 (0.3%)

Friendly delay ‘last hurdle’ to IMF bailout

  • Finance Minister Ishaq Dar says several countries had made commitments to support Pakistan during previous International Monetary Fund reviews
Published March 17, 2023
Follow us

ISLAMABAD: Finance Minister Ishaq Dar said on Thursday that an assurance from “friendly countries” to fund a balance of payment gap was the last hurdle in securing an IMF deal, which will offer a critical lifeline to avert an economic meltdown.

Several countries had made commitments to support Pakistan during previous International Monetary Fund (IMF) reviews, Dar told the country’s upper house of parliament, adding that the IMF was now asking for those commitments.

“At the time of the previous reviews, several friendly countries had made commitments to bilaterally support Pakistan, what IMF is now asking (is) that they should actually complete and materialize those commitments,” he said, adding: That’s the only delay.”

Pakistan has to give assurances on financing BOP deficit: IMF

Pakistan is awaiting a bailout package of $1.1 billion from the IMF, that has been delayed since November over issues related to fiscal policy adjustments.

The funds are part of a $6.5 billion bailout package the IMF approved in 2019, which analysts say is critical for Pakistan to avert defaulting on external payment obligations.

The deal will also unlock other bilateral and multilateral financing avenues for Pakistan to shore up its foreign exchange reserves, which have fallen to four weeks worth of import cover.

The IMF wants Pakistan to get the assurance for up to $7 billion to fund this fiscal year’s balance of payments gap. Dar has been saying it should be around $5 billion.

Islamabad has been hosting the IMF mission since early February to negotiate a series of policy measures for the cash-strapped economy to manage the fiscal deficit ahead of the annual budget around June.

“It has been extensive engagement, unusual, too lengthy, too long, too demanding, but we have completed everything,” Dar said.

Prime Minister Shehbaz Sharif said that all of the IMF’s conditions had been met.

“We’ve completed bitter, very bitter conditions of the IMF,” he told the upper house of the parliament, adding that he hoped to “have a staff level agreement soon.”


1000 characters
Tulukan Mairandi Mar 17, 2023 08:21am
Why is Iron Brother delaying issuance of commitment letter? Really disappointed that sweeter than honey China is doing this. Perhaps Pakistan should relook at its stance vis-a-vis relationship with USA and Taiwan, and its silence on Xinjiang genocide. It's about time we assert ourselves.
thumb_up Recommended (0) reply Reply
Yogesh(India) Mar 17, 2023 09:10am
Pakistan is like woman with so many husband's.You have to satisfy all .
thumb_up Recommended (0) reply Reply
Ch. K. A. Nye Mar 17, 2023 10:20am
There are no commitments.
thumb_up Recommended (0) reply Reply
Adeel Mar 17, 2023 10:29am
Financial wizard..... Haha Cocomo ky bad 2nd clown (as per son of prime minister) Mr. Biska (both products from Candyland) trying to solve financial problem of Pakistan..... Tum sy na hoga
thumb_up Recommended (0) reply Reply
Sumroo Mar 17, 2023 12:42pm
Clowning around of clowns continue!
thumb_up Recommended (0) reply Reply
Rizwan Mar 17, 2023 12:45pm
Losers.. bari izat kumka di h Pakistan ko es maskhre ne
thumb_up Recommended (0) reply Reply
Azaree Mar 17, 2023 12:48pm
The pretender...the con artist ...wrecking havoc with country's economy!
thumb_up Recommended (0) reply Reply
Jamshed Mar 18, 2023 12:24am
Beggars cant be choosers, who are we to complain to IMF? if we dont like there conditions then we should look elsewhere for funds.
thumb_up Recommended (0) reply Reply

Friendly delay ‘last hurdle’ to IMF bailout

Imran gives consent to call all parties conference to discuss elections: Fawad

Terrorism cases: Imran Khan granted protective bail by LHC

Rupee makes minor gain against US dollar, settles at 283.92

Pakistan careening towards potential default if IMF aid does not arrive: Bloomberg

Oil rises for second day as banking fears ease for now

Three soldiers martyred in DI Khan attack: ISPR

Xi calls Russia ties priority on Moscow trip

Auto sector woes: Hinopak suspends assembly plant operation

Auto financing dips for eighth consecutive month

IMF bailout not a silver bullet for Sri Lanka, says Moody’s Analytics