{"id":698,"date":"2023-05-29T05:55:54","date_gmt":"2023-05-29T05:55:54","guid":{"rendered":"https:\/\/nayaujala.com\/english\/?p=698"},"modified":"2023-05-29T05:55:54","modified_gmt":"2023-05-29T05:55:54","slug":"pakistan-has-already-completed-all-conditions-of-imf-ishaq-dar","status":"publish","type":"post","link":"https:\/\/nayaujala.com\/english\/pakistan-has-already-completed-all-conditions-of-imf-ishaq-dar\/","title":{"rendered":"&#8220;Pakistan has already completed all conditions of IMF,&#8221; Ishaq Dar"},"content":{"rendered":"<p class=\"\">Finance Minister Ishaq Dar has revealed that the coalition government has agreed to share details of\u00a0its upcoming budget details with the\u00a0International Monetary Fund (IMF) in order to unlock the stalled funds.<\/p>\n<p>&#8220;They have asked us for some more details like the details of (the) budget, we will give that to them,&#8221; Dar said while speaking on news channel.<\/p>\n<p>He reiterated that the country has fulfilled all conditions laid forth by the Washington-based lender to revive the stalled $6.5 billion programme and urged the global lender to release the funds before the upcoming federal budget due next month.<\/p>\n<p>The financial czar said some powers do not want economic stability in Pakistan and blamed the previous Pakistan Tehreek-e-Insaf (PTI) government for &#8220;destroying&#8221; the country\u2019s economy.<\/p>\n<p><a href=\"https:\/\/nayaujala.com\/englishlish\/2023\/05\/22\/govt-plan-afoot-to-ban-pti-amid-crackdown\/\">Govt plan afoot to ban PTI amid crackdown on May 9 rioters, Imran Khan claims<\/a><\/p>\n<p>\u201cRecord inflation was witnessed during Imran Khan&#8217;s tenure,\u201d he said, adding that the former prime minister did not honour the agreement with the IMF.<\/p>\n<p>The IMF&#8217;s $1.1 billion funding to Pakistan, which is part of the $6.5 billion rescue package agreed in 2019, has been held up since November.<\/p>\n<p>The IMF and Pakistan held two weeks of talks in February in Islamabad to conclude the 9th review, but the lender has not yet released the money, which is critical for the country to unlock other bilateral and multilateral financings.<\/p>\n<p>The federal minister further said that he would want the IMF to release the funds before the budget was presented, which is due in early June.\u00a0 He added, &#8220;We will not do the 9th and 10 reviews together. This is unfair.&#8221;<\/p>\n<p><strong>READ THIS:<a href=\"https:\/\/nayaujala.com\/englishlish\/2023\/05\/23\/oil-prices\/\">Oil prices rise on outlook for higher gasoline demand, tighter supply<\/a><\/strong><\/p>\n<p>The hopes are diminishing each day mainly because the ongoing programme of $6.5 billion under the EFF will expire on June 30.<\/p>\n<p>The parleys between Pakistan and the IMF continue for the completion of the ninth review, which was due on November 3 of last year. The formal negotiations started on January 31 when an IMF delegation visited Pakistan for in-person talks.<\/p>\n<p>However, the two sides could not reach a consensus during the course of scheduled talks that ended on February 9. Since then, multiple online sessions have been held but the differences persist on conditions set by the Fund for the Staff Level Agreement (SLA).<\/p>\n<p><strong>READ:<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/nayaujala.com\/englishlish\/2023\/05\/21\/pakistanis-view-on-country-economy\/\">Political dejection linked to economic despair: survey<\/a><\/span><\/strong><\/p>\n<p>If the SLA is not struck ahead of the upcoming budget for 2023-24, scheduled to be unveiled on June 9, the ongoing programme will face a failure.<\/p>\n<p>\u201cThere are a couple of options left for moving forward. The first is by signing the SLA on an immediate basis and forwarding Pakistan\u2019s request before the IMF Executive Board for approving the next tranche of $1 billion and also securing an extension in the EFF programme period by a few months in order to accomplish the 10th and 11th Reviews,\u201d sources, privy to the background discussions told the publication.<\/p>\n<p>The second option could be combining the 9th and 10th reviews and for Pakistan to share upcoming budgetary numbers with the IMF.<\/p>\n<p><strong>READ THIS:<a href=\"https:\/\/nayaujala.com\/englishlish\/2023\/05\/24\/govt-considering-banning-pti-khawaja-asif\/\">Govt considering banning PTI: Khawaja Asif<\/a><\/strong><\/p>\n<p>Then the SLA should be signed after the announcement of the budget and in case of its approval from parliament, the IMF\u2019s Executive Board could approve combined tranches and also grant an extension to the EFF programme for accomplishing the 11th Review by July or August 2023.<\/p>\n<p>\u201cThere are no easy options available; both sides will have to work out modalities for evolving consensus. But with the existing approach of maintaining the status quo, no breakthrough can be achieved,\u201d said the official who spoke on the condition of anonymity.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Finance Minister Ishaq Dar has revealed that the coalition government has agreed to share details of\u00a0its upcoming budget details with the\u00a0International Monetary Fund (IMF) in order to unlock the stalled funds. &#8220;They have asked us for some more details like the details of (the) budget, we will give that to them,&#8221; Dar said while speaking [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":699,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,13,14],"tags":[259,91,110,111,79,258,215,31,82],"class_list":["post-698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-latest","category-news","tag-budget","tag-debt-burdens","tag-economy","tag-imf","tag-india","tag-ishaq-dar","tag-pak-army","tag-pakistan","tag-usa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>&quot;Pakistan has already completed all conditions of IMF,&quot; 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