ISLAMABAD: Prime Minister Shehbaz Sharif said on Tuesday that the International Monetary Fund (IMF) is asking the government to provide guarantees at every step before resuming the bailout program.
Speaking during a session of the National Assembly, he stated that the past government violated the agreements made with the lender, and it is now seeking guarantees.
“We worked round the clock to save Pakistan from default,” he stressed. “We are still in talks with the IMF for next tranche of the loan.”
On March 24, the IMF had said that it needed to ensure that financing assurances were in place in order to take “the next step with Pakistan”.
In a press briefing, Julie Kozack, the IMF’s Director of Strategic Communications, stated “timely financial assistance from external partners will be critical to support the authorities’ policy efforts and ensure the successful completion of the review [with Pakistan].
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“Ensuring that there is sufficient financing to support the authorities is the paramount priority. A Staff Level Agreement (SLA) will follow once the few remaining points are closed,” she said.
Finance Minister Ishaq Dar said “friendly” countries were expected to materialise their commitments with Pakistan that would pave the way to close the deal with the IMF and revive the economy.
