Even friendly countries like Saudi Arabia ask us to consult IMF first: Miftah Ismail
- By Web Desk -
- May 30, 2022
Finance Minister Miftah Ismail has said that donor countries have become very cautious about giving us loans and demand us to consult the International Monetary Fund (IMF) first, Bloomberg reported.
According to the international news agency Bloomberg, the Finance Minister said that countries like Saudi Arabia and Dubai, which used to provide Pakistan financial aid in need, have become very cautious about lending us money. Even such friendly countries demand us to go to the IMF first, he added.
According to Bloomberg, the Pakistan government is trying to reach an accord with the IMF in June, the latest hike in petroleum and electricity prices has also been to convince the IMF about providing the economic relief program.
Minister for Finance Miftah Ismail on Saturday announced that $8.9 billion are in the pipeline for the country after approval of a $1 billion tranche from the International Monetary Fund (IMF).
He had claimed that a staff-level agreement would be finalized with the IMF in June. World Bank and Asian Development Bank would also provide Pakistan with economic relief packages after the IMF deal, he had added.
Also Read: US$8.9 billion in pipeline after start of IMF programme: Miftah Ismail
The Finance Minister had also clarified that they had not discussed anything pertaining to privatization in the recent negotiations with the IMF in Qatar.