For the revival of International Monetary Funds (IMF) loan program, all eyes are set on the ongoing New Global Financing Pact summit in Paris where a meeting between Prime Minister Shehbaz Sharif and MD IMF is expected as a final effort to secure the agreement for ninth review.
PM Shahbaz Sharif reached Paris to participate in the New Global Financing Pact Summit along with his delegation. Pakistan’s Ambassador in France, senior authorities of the French government and other diplomats welcomed the Pakistani delegation, which includes Federal ministers Sherry Rehman, Sardar Ayaz Sadiq, Marriyum Aurangzeb and Special Assistant to PM Tariq Fatemi.
PM Pakistan would meet heads of various states in bilateral meetings to discuss the challenges in financial sustainable development. They would also talk about environmental sustainability, energy transition and climate change.
In addition to these meetings, Shehbaz Sharif will also meet MD IMF Kristalina Georgieva, in which a breakthrough is expected to revive the IMF loan program. He will address the IMF’s concerns regarding the new budget and inform about the ongoing necessary reforms for sustainable economic stability.
The loan program, spanning more than three years, is getting closer to the expiry date. Pakistan has so far received 3.9 billion dollars, while financing of 2.6 billion dollars is pending.
Ishaq Dar Meeting with US Ambassador for Revival of IMF Loan Programme
On the other hand, Finance Minister Ishaq Dar and US Ambassador Donald Bloom held an important meeting in Islamabad.
According to sources, the Ministry of Finance briefed the US ambassador on the progress made in the Pakistan-IMF negotiations and the ongoing efforts for budget measures, economic stability and reforms.
The finance minister also asked for help to secure the agreement as quickly as possible, on which the US ambassador assured cooperation in promoting bilateral economic and trade relations and investment.