PM signaled of Finalizing Deal With IMF within June

Prime Minister Shehbaz Sharif expressed hope that a deal with the International Monetary Fund (IMF) can be finalized by the end of June.

In an interview with Turkish News Agency Anadolu, the prime minister said that Pakistan has met all of the IMF’s conditions and is hopeful that the lender will approve the ninth review of its bailout program.

Sharif said that some of the actions required by the IMF are usually met after the approval of the board, but this time the lender has requested that they be met before the board’s approval. Pakistan has met these conditions as well.

The prime minister also said that the Pakistani people are resilient and will “tighten their belt” if necessary to weather any storm. Pakistan has been negotiating with the IMF since early February for the release of $1.1 billion, part of a $6.5 billion bailout bundle inked through the preceding authorities in 2019.However, no matter the passage of virtually 4 months because the final staff-degree undertaking to Pakistan, the staff-degree settlement has nevertheless now no longer been signed.

The IMF has said that it is committed to helping Pakistan, but has also stressed the need for the government to implement tough economic reforms. The outcome of the IMF talks will have a significant impact on Pakistan’s economy and its ability to meet its financial obligations.

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