Pakistan urges US to pressure the IMF to obtain a staff-level accord.
The IMF would need to decide for agreement whether to conclude the ongoing 9th Review under the EFF program.
Meeting between US Ambassador Donald Blome and Minister of Finance and Revenue Ishaq Dar included discussion of the matter.
According to reliable sources in the finance ministry, the finance minister reminded the US representative that the Extended Fund Facility (EFF) program was scheduled to expire on June 30, 2023.
The program “will go up in smoke” if the IMF policy of inaction maintained.
Donald Blome, the meanwhile, asked for a tax burden reduction for some US businesses doing business in the nation, particularly those involved in the beverage industry.
Dar responded by saying he would consider the request while creating the budget.
H.E. Mr.Donald Blome, Ambassador of the United States of America to Pakistan called on Finance Minister Senator Mohammad Ishaq Dar and exchanged views on matters of mutual interest and enhancing bilateral economic, investment and trade relations between the two countries.🇺🇸🇵🇰 pic.twitter.com/pwVAB9v16i
— Ministry of Finance, Government of Pakistan (@Financegovpk) May 26, 2023
The finance ministry released the following statement on Friday. “H.E. Mr. Donald Blome, Ambassador of the United States of America to Pakistan called on Finance Minister Senator Mohammad Ishaq Dar and exchanged views on matters of mutual interest and enhancing bilateral economic, investment, and trade relations between the two countries.”
In order to handle the difficult economic climate and promote economic stability and growth. The minister also presented the government economic priorities and policies.
It stated that the two sides discussed issues of mutual interest and ways to improve their already-existing bilateral ties.
The statement read, “The finance minister also told the ambassador about the ongoing IMF program and assured the envoy of the government dedication to completing the scheme. Keep in mind that Pakistan is working with the IMF to restart the EFF initiative, which has halted.
The main reason why prospects are dwindling is that the $6.5 billion continuing scheme under the EFF will end on June 30.
Kristalina Georgieva:
IMF chief earlier stated that Pakistan has not yet entered default and that it’s hoped that Pakistan will not enter default, preventing Pakistan from experiencing situation similar to that of Sri Lanka and Ghana.
According to Kristelina Georgieva, it’s hoped that Pakistan will successfully finish its current program and expand it to Ghana and Sri Lanka. We won’t have to deal with anything like that.
