PM Shehbaz expresses gratitude to Sri Lankan president for support in IMF deal

Prime Minister Shehbaz Sharif has thanked President of Sri Lanka Ranil Wickremesinghe for helping Pakistan reach an agreement with the International Monetary Fund (IMF).

He expressed his gratitude in a telephone call, state-run Radio Pakistan reported on Monday.

During the phone call, PM Shehbaz acknowledged the role played by Sri Lanka as a friend and a well-wisher of Pakistan.

As per the report, the Sri Lankan president, on the occasion of PM Shehbaz’s meeting with IMF Managing Director Kristalina Georgieva in Paris, had stressed that the IMF should help Pakistan.

The PM’s phone call comes after the IMF’s Executive Board approved a nine-month Stand-By Arrangement (SBA) for Pakistan for an amount of $3 billion.

Following the Board’s approval, IMF deposited $1.2 billion into the State Bank of Pakistan (SBP), giving a much-needed boost to the economy reeling from dollar shortage and runaway inflation. The IMF deal was also accompanied by deposits from the UAE and Saudi Arabia.

Meanwhile, Pakistan and Sri Lanka agreed to continue the long-standing cooperation in areas of mutual interest and further strengthen bilateral ties.

PM Shehbaz also commended Sri Lanka’s role in regional peace and prosperity, saying that both countries will soon come out of the vortex of current economic difficulties.

‘‘Pakistan is our close friend and helping friends is friendship,’’ Radio Pakistan quoted President Wickremesinghe as saying.

President Wickremesinghe appreciated PM Shehbaz’s efforts in difficult situations and felicitated him on reaching an agreement with the IMF.