ISLAMABAD: Finance Minister Ishaq Dar made a statement to clarify media reports that suggested he would not be attending the International Monetary Fund (IMF) and World Bank meetings scheduled for Washington
Rumours had suggested that officials had refused to meet with Dar at the spring meetings held by the Bretton Woods institutions.
Dar dismissed the rumours and explained that he postponed his visit at the request of Prime Minister Shehbaz Sharif.
He emphasised that Pakistan is a member of the IMF and that they are not beggars; the lender cannot stop him from attending the meetings.
Due to the uncertain political situation, Dar will be attending the upcoming annual spring meeting of the IMF virtually.
Deteriorating Political Situation :
The PML-N leader highlighted the deteriorating political situation, explaining that the Supreme Court of Pakistan has asked the government to issue funds to the Election Commission of Pakistan to hold elections in Punjab. He also mentioned that the country has recently repaid a debt of around 11 billion dollars.Dar expressed hope in sealing an agreement with the IMF in the coming days and getting assurances from all friendly nations for additional funds.
Negotiations with the IMF:
Pakistan has been negotiating with the IMF since last year for the release of a bailout package.However, the lender has not been satisfied with the government’s efforts, as they have been asked to end all subsidies, remove an artificial cap on the exchange rate, impose hefty taxes, and raise fuel prices.