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IMF asks Pakistan to arrange $8b

IMF approves the release of pending bailout funds that are crucial for Pakistan to resolve an acute balance of payments crisis, according to the IMF spokeswoman.

Sources have said that the IMF’s focus is now more on ensuring that Pakistan does not default by arranging funds to the extent of the external debt repayments. It is no longer emphasising on increasing the extremely low foreign exchange reserves.

Dar also said on Thursday that Pakistan would not default on any foreign liability, with or without an IMF programme. He said Pakistan had fulfilled all the prior actions of the IMF and it was now up to the lender to sign the agreement.

The finance minister argued that the delay in the IMF deal should not be linked to default.

“Pakistan will not default whether there is an IMF programme or no programme,” he asserted. He went on to say that additional tough decisions could not be taken at this stage.

Dar said that suspicions were being created as if to say that Pakistan is going to default on its international payments. He said an international rating agency talked about Pakistan’s $3.7 billion external payments due before June 30 and when he responded to the situation with a clarification, another rating agency came up with an assertion the next day that Pakistan would not be able to meet its foreign obligations from July to December.

The foreign exchange reserves held by the State Bank of Pakistan have fallen to $4.4billion.

The government has been trying to avoid default by putting the brakes on imports, as its debt-related financial inflows have almost dried up due to a delay in reaching a deal with the IMF.

Sources say that the government is also not inclined in meeting the IMF’s demand of sharing a draft of the next year’s budget. Senior officials from the finance ministry said that the draft budget can only be shared if the IMF is willing to merge the 10th review and give more than $1.2 billion financing tranche.

Of the $6.5 billion, $2.6 billion still remain undisbursed despite a nine-month extension in the IMF programme.

This is another way of white masters to their khaki salves saying F off B.
Nobody is going to pay a penny to thieves, looters, and plunders. On top, they do not even represent the majority in Pakistan and are imposed by the military. In other words IMF just showed a middle finger to
they might be aware, that if the loan is released before the budget
it will all be thrown into defense
if Pakistan has to arrange 8 bn and IMF will lend only 1, Pak may as well arrange the whole 9 bn itself, bc (sorry for the bad language). F*** IMF

We should at this point just commit nuclear genocide on everyone in the region and die at least a Nation called Pakistan will be remembered
give them to take away the nukes, they are pretty useless anyway with these "Muhafiz" in charge. this explains why they have a problem with Iranian nukes but Pk nukes are fine, because they are the hand in the glove of the button.
PDM= IMF is the enemy of pakistan not giving loan
Letter to IMF

IMF, please do not give any funds to this fraud Pakistan government, Military/PDM. Money in suitcases is going to London and not to the peoples of Pakistan
I hope Hafiz sab will arranged it very easily by selling properties of their generals in Austrailia USA UK and UAE
Hafiz Sahib went to KSA and UAE ...but they served him Qawa and Khajor and sent him back with....era is over. Leave those luxury life still and work hard to build the nation.

They will hold all export bills and companies payments to save the dollar for IMF plan....but imagine the free fall after that ........... rupee will be fly over another few hundreds ...
if Pakistan has to arrange 8 bn and IMF will lend only 1, Pak may as well arrange the whole 9 bn itself, bc (sorry for the bad language). F*** IMF

You are wrong. No lender will Pakistan a new loan without IMF approval. IMF needs guarantees of other lenders' loan perspective and lenders need IMF approval of Pakistan economy. You can compare it with Sri Lanka, India not only gave Sri Lanka an aid with an investment guarantee on IMF loans, we also lobbied for Sri Lanka's inclusion in IMF program.

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