IMF chief says Pakistan won't default
- By Web Desk -
- Apr 14, 2023
WASHINGTON: The International Monetary Fund (IMF) chief Kristalina Georgieva has hoped that Pakistan won’t face Sri Lanka and Ghana-like situations.
Pakistan has met all the necessary requirements for receiving a critical $1.1 billion bailout from the international donor, as announced by the Pakistani government.
Pakistan won’t default. “It is best not to get there, and currently, we are not there yet,” IMF Managing Director Kristalina Georgieva said at a news briefing in Washington.
The IMF chief also hoped that with the implementation of what has been already agreed by the Pakistani authorities, we can complete our current programme successfully.
Read more: IMF revises Pakistan’s GDP forecast to 0.5% for FY23
Responding to a question about the impact of climate change on Pakistan’s economy, the IMF chief said in 2011 she had the opportunity to see what climate change meant for the people of Pakistan. “And I know that (last summer’s) flood is much more dramatic than the one I witnessed,” she added.
Pakistan should make a policy framework that makes it possible to avoid what you are talking about, the IMF chief said.
The IMF and Pakistani officials, she said, were also discussing how to support Pakistan “in terms of providing financial assurances so we can complete the programme”.