Prime Minister Shehbaz Sharif held a phone call with International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Tuesday during which he expressed hope that the lender would announce a decision pertaining to the release of bailout funds within a day or two.
Pakistan’s ninth review by the IMF under the 2019 Extended Fund Facility (EFF) for the release of a $1.2bn tranche is still pending with fewer than 10 days remaining the programme’s expiry on June 30.
The country was expected to get around $1.2bn from the lender in October last year as part of the EFF’s ninth review. But almost eight months later, that tranche has not materialised as the IMF says Pakistan has been unable to meet important prerequisites.
As the deadline for the programme inches nearer, the premier held back-to-back meetings with Georgieva in Paris last week.
A handout released by the Prime Minister’s Office (PMO) today said that the premier discussed the IMF programme with the global lender’s chief.
“In connection with the meetings held in Paris, the IMF director general acknowledged efforts by the finance minister and his team for completion of the programme,” it said.
Meanwhile, PM Shehbaz expressed hope that coordination on the points of the IMF programme would lead to a decision from the global lender in a day or two.
“The prime minister also reiterated his determination to achieve the goals of improving the economic situation through joint efforts,” the handout added.
It also quoted Georgieva as saying that the Fund wanted Pakistan’s economic situation to improve and appreciated the commitment of the premier.
