\u201cPakistan willing to take further steps jointly with the IMF for 9th review,\u201d says PM Shehbaz
\nIslamabad
\nAfter meeting the International Monetary Fund\u2019s (IMF) managing director, Prime Minister Shehbaz Sharif said that Pakistan \u201ckeenly looks forward\u201d to the lender\u2019s Executive Board\u2019s \u201capproval for the 9th review at the earliest\u201d.
\n\u201cIt was a pleasure to meet you and have a productive exchange of views on the IMF\u2019s continued engagement with Pakistan,\u201d said PM Shehbaz in response to IMF MD Kristalina Georgieva\u2019s tweet regarding her meeting with him.
\nThe premier assured that the government is fully committed to the ongoing Extended Fund Facility (EFF) that is set to expire this month.
\n\u201cThough all prior actions for the 9th Review have been completed, we are willing to take further steps jointly with IMF. Pakistan keenly looks forward to IMF Board\u2019s approval for the 9th Review at the earliest,\u201d said the PM.
\nPM Shehbaz met IMF MD earlier today and urged the lender to unlock stalled funds as Pakistan has met all conditions.
\nThe premier held the meeting on the sidelines of the Summit for a New Global Financial Pact being held in Paris in a bid to assure the IMF of the country\u2019s commitment to fulfilling all promises made in this regard. The two exchanged views on the ongoing programmes and cooperation between Pakistan and the Wasington-based lender.
\nRecalling their last telephone conversation, the prime minister apprised Georgieva of Pakistan\u2019s economic outlook.
\nHe outlined the steps taken by his government for economic growth and stability, underscoring that all prior actions for the 9th review under the EFF had been completed, and Pakistan was fully committed to fulfilling its obligations as agreed with the fund.
\nThe prime minister expressed the hope that the funds allocated under the EFF would be released as soon as possible. \u201cThis would help strengthen Pakistan\u2019s ongoing efforts towards economic stabilisation and bring relief to its people.\u201d
\nIn response, Georgieva shared her institution\u2019s perspective on the ongoing review process.
\nThe meeting provided a useful opportunity to take stock of the progress in that context.
\nPakistan has barely enough currency reserves to cover one month\u2019s imports. It had hoped to have $1.1 billion of the funds released in November \u2014 but the IMF has insisted on a number of conditions before it makes any more disbursements.
\nWith time for only one last IMF board review before the end of the $6.5 billion EFF, Pakistan was expected to present a budget in line with programme objectives, restore the proper functioning of the FX market, and close the $6 billion gap ahead of the board review.<\/p>\n","protected":false},"excerpt":{"rendered":"
\u201cPakistan willing to take further steps jointly with the IMF for 9th review,\u201d says PM Shehbaz Islamabad After meeting the International Monetary Fund\u2019s (IMF) managing director, Prime Minister Shehbaz Sharif said that Pakistan \u201ckeenly looks forward\u201d to the lender\u2019s Executive Board\u2019s \u201capproval for the 9th review at the earliest\u201d. \u201cIt was a pleasure to meet […]<\/p>\n","protected":false},"author":2,"featured_media":339316,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-339413","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news"},"yoast_head":"\n