ISLAMABAD: Finance Minister Ishak Dar on Monday reaffirmed its commitment completing program with International Monetary Fund (IMF) in meeting on aside of climate conference in Geneva on This was announced on Monday by the Ministry of Finance. in statement.
Representatives of Dar and the IMF “discussed challenges into the regional economy in commemoration of climate change,” the statement said following the meeting. “[The] finance minister confirmed commitment complete Fund program,” It added.
“It was good meeting, but I have no statements,” Athanasios Arvanitis, Deputy director of This was reported to Reuters by the IMF’s Middle East and Central Asia Department immediately after its completion.
The IMF has not yet approved the release of $1.1 billion originally to be paid in november last yearleaving pakistan with foreign exchange reserves are sufficient only to cover one monthly import.
French President Emmanuel Macron said at a conference that Paris is ready support Pakistan in his negotiations with financial institutions.
UN Secretary General António Guterres (UNSG) previously called for major reform of in international financial system to allow countries vulnerable to climate disasters in order to receive adequate funding from richer countries.
During his previous speech at the climate conference, Dar said that Pakistan is committed to its international obligations. He claimed that the country on track with his macroeconomic fiscal program, which he said was focused on increase in income, expenses on social industry programs, cost reduction and creating more fiscal space for reconstruction and rehabilitation.
“Now Pakistan facing challenges on Account of additional costs incurred and planned for in flood-associated with rescue and rehabilitation needs.
“Pakistan bears out necessary fiscal reforms, but we believe that we urgently need short-term help with navigation of challengesDar emphasized.
“Our urgent expectation is not just a commitment for resources, but we also look at our budget inflows and aid during the remainder of of in current fiscal year in order for in government continue to help,” he said.
During his press conference with UN Secretary General, Prime Minister Shehbaz Sharif also expressed Pakistan’s commitment complete the IMF program. However, at the same time, he wondered how The Foundation might have expected pass on burden of inflation for citizens who are still reeling from the floods.
“Is not in line with norms of justice and fair play”, he said, adding that he asked the IMF to provide Pakistan with with “pause and some breath space”.
prime minister said it was an “ongoing process” and the country would one day able to convince with Fund using “logic and facts.” However, he reiterated that government will comply with terms of the IMF program.
This Article Dar reaffirms commitment to completing IMF programme was first Published on World Weekly News