Pakistan will fully honour IMF commitments, PM Shehbaz tells Kristalina Georgieva

Prime Minister Shehbaz Sharif expressed sincere thanks to International Monetary Fund (IMF) Managing Director Kristalina Georgieva over the phone for her support and assistance in realizing the recently negotiated $3 billion stand-by agreement.

The prime minister praised the MD for her leadership and professionalism, according to the PM Office. He also acknowledged MD IMF’s feelings about the poor.

According to the IMF’s MD, Pakistan and the IMF currently enjoy strong collaboration and mutual trust. She was convinced that Pakistan’s prime minister would keep his promises.

She promised Pakistan that the IMF will continue to assist it, referring to it as an essential member.

The Prime Minister thanked MD Georgieva for her positive attitude and candid remarks during the Prime Minister’s contact with her in Paris. Eventually, both parties’ efforts paid off, and a Standby Arrangement (SBA) was agreed.

PM Shehbaz Sharif has stated that he will not tolerate any breach of the IMF deal.

“This government will be in place until August when an interim government will take over, and he is confident that they will continue to meet their obligations.”

Referring to Pakistan’s top-quality mangoes, the prime minister stated that it will be an honor to present the Managing Director with a gift of Pakistani mangoes as a gesture of respect and sincere appreciation

IMF bailout

The International Monetary Fund provided Pakistan with the first tranche of $1.2 billion under the SBA programme on Thursday.

Dar stated that the remaining $1.8 million would be released after two reviews, implying two installments.

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