Ishaq Dar says nation to hear good news about IMF program soon

ISLAMABAD: Minister for Finance Ishaq Dar said that the nation will hear a good news about International Monetary Fund (IMF) program soon, ARY News reported.

As per details, the finance minister said that the negotiations between Pakistan and International Monetary Fund are on the right track and they will announce good news soon.

Ishaq Dar said economic revival and trade deficit are the two challenges for the country. He said that the foreign debt increased by 30 Billion USD in the last four years. He said the policy rate was increased to 22% on the demand of the IMF.

The Finance Minister said the past government did not honor the IMF conditions laid down in an agreement. Talking about the steps for the government employees, he said we did everything for the salaried class of the country.

Earlier, Prime Minister Shehbaz Sharif made his fourth contact with International Monetary Fund (IMF) Managing Director (MD) Kristalina Georgieva in six days.

Pakistan’s ninth review by the IMF under the 2019 Extended Fund Facility (EFF) for the release of a $1.2bn funds is still pending with just 3 days remaining the programme’s expiry on June 30.

In a telephonic conversation, Prime Minister Muhammad Shehbaz Sharif has expressed the confidence that understanding on International Monetary Fund programme will shape into a final decision by the lender within a couple of days.

The premier also expressed the resolve to achieve the goals for improving economic condition of the country in collaboration with the Bank, a handout released by the Prime Minister’s Office (PMO) said.