Lahore. Pakistan Prime Minister Shehbaz Sharif has said that he hoped the country could sign a staff-level agreement with the IMF to secure the stalled bailout package. He said that Pakistan has fulfilled all the conditions required for the settlement with the global lender. Sharif’s comments come at a time when many believe that the chances of reviving the current $6.5 billion IMF bailout program are slim.
This agreement expires on June 30. The International Monetary Fund (IMF) is yet to disburse $2.6 billion of the $6.5 billion package. Sharif said at a function here on Sunday that there is still hope of completing that deal with the global lender. “If there is further delay in the deal with the IMF, I will let you know,” he said, referring to the government’s plan.
The IMF had signed an agreement in 2019 to provide a $6 billion loan to Pakistan on meeting certain conditions. “Pakistan has fulfilled all the pre-conditions and it is expected that the agreement with the IMF will be signed this month itself,” Sharif said. conditions have been met.
Obstacles in finalizing the agreement have been removed. The agreement will be done this month.” He also said that “there is no obstacle now” in signing a staff-level agreement between Pakistan and the IMF. He blamed the previous government for the ongoing economic crisis in Pakistan. Holding responsible that the Pakistan Tehreek-e-Insaf (PTI) government of former Prime Minister Imran Khan violated the agreement with the IMF.
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