From what could be safely termed as a desperate attempt to restart the IMF programme, Prime Minister Shehbaz Sharif has assured the IMF Managing Director Kristalina Georgieva that his government was fully committed towards meeting the conditions laid down by the global lending body.
Mr Sharif took to Twitter to share the latest update regarding the renewal of the IMF programme that has been stalled since the PDM-led government, under the patronage of Prime Minister Shehbaz Sharif, refused to accept all conditions of the IMF.
Mr Sharif wrote on Twitter: “In a phone call with Managing Director of the IMF yesterday, I told her about the government’s resolve to complete the terms of IMF’s program. I also explained Pakistan’s economic difficulties especially after the devastating floods. IMF delegation will come to Pakistan soon.”
In a phone call with Managing Director of the IMF yesterday, I told her about the government's resolve to complete the terms of IMF's program. I also explained Pakistan's economic difficulties especially after the devastating floods. IMF delegation will come to Pakistan soon.
— Shehbaz Sharif (@CMShehbaz) January 7, 2023
It is pertinent to mention here that Pakistan’s foreign reserves have hit eight-year low, depleting to $5.6bn. The experts have predicted an economic default if the IMF and the friendly countries refuse to lend a helping hand to Pakistan.