Ayesha Ghaus Pasha hopeful for IMF installment after Saudi Arabia gives money to Pakistan
Pakistan
The lending agency got assurance from Saudi Arabia as well: Minister
ISLAMABAD (Web Desk) – Minister of State for Finance Dr Ayesha Ghaus Pasha said that the International Monetary Fund (IMF) has received a commitment from Saudi Arabia that intends to give money to Pakistan.
Talking to the media, she said that after this indication the matter has gone ahead.
The minister further said that talks are going on with the United Arab Emirates as well. "I don't know if the Finance Minister is going there or not", she said adding he would be able to move towards the IMF installment only when our talks with the United Arab Emirates go ahead.
It may be recalled that last month, Finance Minister Ishaq Dar had expressed that the fulfillment of financial commitments by friendly countries is the only obstacle in the way of an IMF deal where this loan tranche can save Pakistan from bankruptcy.
In a parliamentary address last week, Prime Minister Shehbaz Sharif also said that the IMF wants to fulfill external financing commitments from friendly countries before issuing bailout funds.
The international lender has been in talks with Pakistan since early February to resume $1.1 billion in funding that is part of a $7 billion bailout package agreed upon in 2019.
The State Bank reserves have fallen to record lows, leaving money for four weeks of imports only.
