June 17, 2022
1 min read

Pakistan pins hopes on US to revive IMF deal

Sources have said the government’s economic team with US Ambassador Donald Blome and sought Washington’s support and acknowledgement of the actions taken so far…reports Asian Lite News

Finance Minister Miftah Ismail and Minister of State for Finance Aisha Pasha met with the US envoy….reports Asian Lite ne

 Pakistan has sought support from the US for the revival of the International Monetary Fund (IMF) programme, as the global lender is yet to agree to a staff level pact despite the government having taken many difficult steps.

Sources have said the government’s economic team with US Ambassador Donald Blome and sought Washington’s support and acknowledgement of the actions taken so far, The Express Tribune reported.

Blome was apprised about measures that have been taken to revive the programme and bring stability in the economy, they added.

Finance Minister Miftah Ismail and Minister of State for Finance Aisha Pasha met with the US envoy.

The US is the largest shareholder in the IMF and has in the past too played a role in helping Islamabad complete the Fund’s programme reviews, The Express Tribune reported.

The US Ambassador was informed that the government has proposed fiscal consolidation equal to 2.2 per cent of Gross Domestic Product despite challenging times.

Despite three main rounds of talks, including two by the incumbent government, and multiple virtual contacts, the IMF did not share the draft of the Memorandum for Economic and Financial Policies (MEFP) with Pakistan till Thursday afternoon, according to the sources.

The MEFP forms the basis of any staff level agreement and without finalisation, no formal staff level agreement can be signed.

The Pakistan-IMF programme remains derailed since March this year after the previous government backtracked from its commitments

ALSO READ: Rs 233.89 per litre: Petrol price touches new high in Pakistan

Previous Story

Int’l community disappointed with Taliban: Afghan envoy

Next Story

German Chancellor warns against China’s debt traps

Latest from -Top News

India Strikes Terror Bases in Pakistan

‘Justice is served’, says Indian Army as Operation Sindoor unfolds In a significant military response to the deadly terror attack in Pahalgam that claimed 26 civilian lives, the Indian Army on Wednesday

Zero Tariffs? Trump Claims Big Win Over India

Trump Claims India to Eliminate Tariffs on U.S. Imports..reports Asian Lite News U.S. President Donald Trump announced on Tuesday that India has either already removed or is in the process of removing

UNSC Grills Pakistan Over Pahalgam Attack

Though Pakistan claimed that the meeting largely served and achieved the objectives of the UNSC’s meeting, reports showed that it flopped miserably…reports Asian Lite News The United Nations Security Council (UNSC) reportedly

Pakistan’s Terror Link “No Secret”: Bilawal Bhutto

Zardari stated that Pakistan’s intelligence services have since changed course and no longer collaborate with extremist elements..reports Asian Lite News Bilawal Bhutto Zardari, former Foreign Minister of Pakistan, has openly acknowledged Pakistan’s
Go toTop

Don't Miss

Rain fury in Pak’s Karachi

The rains that started Sunday evening continued to pour till

Afghan NSA’s remark triggers diplomatic row with Pakistan

Mohib’s recent remarks sparked a diplomatic row between the neighbours,