Ishaq Dar says ‘Pakistan will not default with or without IMF’

ISLAMABAD: Finance Minister Ishaq Dar said on Thursday that Pakistan will not default with or without the International Monetary Fund, however, the government has completed the implementation of all conditions of the IMF, ARY News reported.

While addressing National Security & Economy Dialogue, Ishaq Dar said that Pakistan possesses key geographical importance in regional trade. He said the restoration of Saudi Arabia and Iran ties is welcoming as the end of disputes will promote peace and prosperity in the region.

Dar said that economic stability is the top priority of the government. The finance minister said that the government is waiting for a staff-level agreement with the International Monetary Fund (IMF) and implemented pre-conditions for the loan.

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Rejecting the reports about default, he said that analysts are creating an impression about Pakistan’s default and trying to compare the country with Sri Lanka but their analysis will be proved false.

He further said that Pakistan adopted necessary steps to meet the IMF conditions for a staff-level agreement. Dar said that the Fund can take more time for signing the staff-level agreement.

The finance minister assured that the government will make timely repayment of $3.7 billion in May and June. He added that the global institutions should not give statements about Pakistan’s default.

Ishaq Dar said that the friendly countries will fulfil their promises about financing soon.

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Earlier in April, Dar asserted that the government was determined to set the economy on a positive trajectory by introducing reforms in various sectors in order to achieve economic stability and growth.

While chairing the meeting of the Reforms and Resource Mobilisation Commission (RRMC) in Islamabad, the finance minister highlighted the current economic and financial outlook of the country.

Ishaq Dar appreciated the efforts of the commission in recognising issues and challenges in the exiting taxation system.