IMF Officials to Visit Pakistan in 2-3 Days: PM Shehbaz

The International Monetary Fund (IMF) will soon visit Pakistan to complete the 9th review.

Prime Minister Shehbaz Sharif confirmed on Friday that IMF Managing Director Kristalina Georgieva assured him that a team will visit Pakistan in 2-3 days. “I told her to ease the terms of the deal because I cannot burden the common man any further,” he added.

“After inquiring about Pakistan’s relations with China and Saudi Arabia, she also told me that China had urged IMF to support Pakistan,” the PM remarked.

The IMF program is currently flatlined at the ninth review stage, with experts suggesting that Pakistan is hesitant to enforce some of the lender’s conditions. The restoration of the bailout is critical for Pakistan as it struggles with a weakening rupee, dwindling reserves, and little to nothing left for supporting the economy.

The State Bank of Pakistan’s (SBP) forex reserves fell by $245 million on Thursday, bringing them down to a dangerous level of $5.58 billion, the lowest level since April 2014.

Meanwhile, the country has failed to secure critical funding from friendly nations like China, Saudi Arabia, and UAE. Overall, this macroeconomic conundrum has left Pakistan fumbling to arrange foreign exchange amid increased concerns about the country’s debt payments and ability to finance imports.

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