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PM Shehbaz holds telephonic conversation with IMF MD Georgieva

  • Pakistan hopes for IMF decision over stalled bailout programme in a day or two
Published June 27, 2023

Prime Minister Shehbaz Sharif held on Tuesday a telephonic conversation with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), and expressed optimism that a decision on the bailout programme would be made in a day or two.

A statement by the Prime Minister’s Office (PMO) stated the premier and IMF MD discussed issues related to the IMF programme.

“The IMF MD acknowledged the efforts of the finance minister and his team.

“The prime minister hoped that coordination on the finer points would take the form of an IMF decision in the next couple of days,” read the statement.

Moreover, Shehbaz reiterated the determination to achieve the goals of improving the economic situation through joint efforts.

Last week, Prime Minister Shehbaz Sharif had held a meeting with Georgieva on the sidelines of the Summit for a New Global Financial Pact in Paris, and briefed the top official on Pakistan’s economic outlook, with hope that the critical funds would be released.

Pakistan is racing against time to revive its stalled bailout as the programme is scheduled to end on June 30.

Experts have said the resumption of the IMF bailout, which has been stalled since November last year, is crucial for the cash-strapped South Asian economy facing a balance of payment crisis.

The expected funding of $1.1 billion from the international lender would pave the way for further inflows from Pakistan’s multilateral and bilateral partners reducing risks of a potential default, say experts.

In addition, it lends stability to the currency market, and anchors expectations of economic growth, inflation and interest rates.

Comments

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Tulukan Mairandi Jun 27, 2023 03:57pm
Shehbaz is leading all Pakistanis (as the PM) begging and pleading on his knees to this arrogant but straightforward woman to bail out an alleged nuclear power of 220 million people with a paltry $1 billion. What a shame. Thanks Dar and Establishment.
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Abdulrehman Haroon Jun 27, 2023 04:56pm
@Tulukan Mairandi, Why don't you come up with a solution then? You're hiding behind a keyboard with a fake username.
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Johnny Walker Jun 27, 2023 05:16pm
One thing I will acknowledge and give credit to our "Bhikaree e Azam" PM is that if nothing else, he is persistent and an expert in grovelling.
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Martian Jun 27, 2023 05:33pm
So close yet so far away
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Ali Asghar Jun 27, 2023 06:08pm
@Tulukan Mairandi, Woohoo, Alleged nuclear power, alright, have some balls to receive few in India, which will sent India back to stone ages in no time.
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AmirSh. Jun 27, 2023 06:46pm
Very unfortunate but true-All of Pakistan's economy is circling around $1B tranche from IMF. Any press conference on this one please?
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Ash Chak Jun 27, 2023 07:52pm
How long are these people going to fool the nation? 'Another day or two'. 'Next week'. 'End of the month'.' we have fulfilled all the conditions".......and the lies continue.
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Dr fahad Jun 27, 2023 09:01pm
@Abdulrehman Haroon, he is Indian
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Az_Iz Jun 27, 2023 09:44pm
All the experts say, without the IMF loans the country will default, for sure. Yet, this back and forth has been going on for the last six months. Why not just move on for good, without these tranches.
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Az_Iz Jun 27, 2023 09:46pm
All the experts have been saying, default is around the corner, without IMF loans. This, is being said, for the past six months, at least.
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