Tuesday, May 30, 2023

IMF asks Pakistan to Meet Demands Within 3 Weeks for Remaining Loan Amount

The IMF has given a timeframe of three weeks and told the Pakistan authorities that the time has come to take “all required actions.”

Ishaq Dar, the finance minister, is scheduled to speak with his core economic team in a few days to reach an agreement on the steps that must be completed in the next few weeks to clear the way for the resumption of the IMF program.

Key Facts:-

  • IMF shares the prerequisites list asking for implementation in 15-20 days.
  • Implementation could pave way for releasing of a $1 billion tranche.
  • IMF to grant a Rs 340 billion adjuster because of floods.

The government would need to come up with a workable plan to eliminate the monster of the circular debt that has accumulated in both the power and gas sectors up to a staggering amount of Rs 4 trillion because the restoration of the IMF program through patchwork may not succeed.

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