Ishaq Dar request US ambassador to play role in IMF deal

ISLAMABAD: Pakistan’s Finance Minister Ishaq Dar has requested the United States (US) ambassador to play role in International Monetary Fund (IMF) deal, ARY News reported citing sources.

According to sources, the Finance Minister Ishaq Dar discussed the IMF deal with the US ambassador Donald Blome and informed him about the current economic situation of the country.

In the meeting with the US ambassador, the finance minister Ishaq dar informed him about the $ 2 billion financing from Saudi Arabia. He said that the talks on $ 1 billion financing is in process, sources added.

Sources said that the United States ambassador Donald Blome assured Ishaq Dar on increasing bilateral cooperation and the IMF deal.

Earlier, the International Monetary Fund (IMF) confirmed that it has received confirmation from Saudi Arabia on $2 billion in additional deposits to Pakistan.

Islamabad has been negotiating with the IMF since the end of January for the release of $1.1 billion from a $6.5 billion bailout package agreed upon in 2019.

To unlock the funding, the government has cut back on subsidies, removed an artificial cap on the exchange rate, added taxes and raised fuel prices.

Sources within the finance ministry confirmed that the lender had informed the Pakistani authorities about the development.

It may be noted that the IMF had demanded of the Pakistani government to get a written guarantee from the friendly countries for the deposit. Saudi Arabia and UAE had sought some time to assure the IMF regarding the deposit.