PM Shehbaz Sharif seeks IMF MD's 'help' for revival of loan programme

ISLAMABAD: Prime Minister (PM) Shehbaz Sharif has sought ‘help’ of International Monetary Fund’s (IMF) Managing Director Kristalina Georgieva for completion of the 9th review with Pakistan to revive the stalled loan programme with the international lender, said sources familiar with the development.

The premier in contact with the IMF MD reportedly asked for her ‘help’ to revive the loan programme with Islamabad, as the current program is due to end on June 30.

PM Shehbaz Sharif ‘assured’ the IMF that budget details will be shared with the IMF, the sources said, and added finance ministry has been asked to ‘prepare’ the FY2023-24 budget with IMF.

Sources said the IMF’s conditions of external finance and exchange rate remain intact.

Earlier, the IMF mission chief said that the fund continues its engagement with Pakistani authorities, to pave the way for a board meeting before the expiry of the financing programme.

Read more: IMF in touch with Pakistan authorities for board meeting

Finance Minister Ishaq Dar said on Sunday that Pakistan will not default and overcome the economic crisis with or without the International Monetary Fund (IMF).

He added that foreign powers are surprised that Pakistan does not default so far.

He said that former prime minister Imran Khan had destroyed the national economy after coming into power adding that Imran Khan’s government got a $100 billion market from the previous PML-N government, but it was destroyed, and Pakistan had nearly defaulted.