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Sunday 28th May 2023 / 8 Zulkaedah 1444

Dar rejects default rumours, says IMF agreement expected next week

IMF deal will take two more weeks to complete: Dar

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ISLAMABAD: Pakistan’s negotiations with the International Monetary Fund (IMF) are about to conclude and Staff Level Agreement with the fund is expected next week, Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar said here on Thursday.

In a tweet, the finance minister said some Anti-Pakistan elements were spreading malicious rumours that Pakistan may default.He said, these rumours were not only completely false but also belie the facts.

The State Bank of Pakistan’s (SBP) foreign exchange reserves have been increasing and are almost US $ 1 billion higher than four weeks ago despite making all external due payments on time, he added.

The finance minister said, the foreign commercial banks have started extending facilities to Pakistan.


The minister’s statement came as the rupee slumped to a historic low of 285.09 against the dollar and experts blamed the stalled IMF deal for the deteriorating economy.

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