With the impending deadline for the ninth review of the ongoing International Monetary Fund (IMF) programme, the government has been proactively pursuing aid from foreign countries.
Amidst these endeavors, Finance Wizard Ishaq Dar met US Ambassador to Pakistan Donald Blome in Islamabad on Wednesday.
Sources privy to the matter said that the finance czar briefed the envoy on Pakistan’s economic outlook and challenges while stalled IMF bailout programme took centre stage during a pivotal huddle.
Dar requested the ambassador to actively contribute towards the revitalization of the International Monetary Fund’s bailout program, sources said.
In light of Dar’s appeal, Bloom provided reassurance of his country’s complete backing, affirming that the United States would engage in discussions with the leading global lender regarding the matter.
Deadline approaching
As the deadline for the ongoing IMF programme draws near, the government has been actively seeking assistance from foreign nations, with a particular emphasis on engaging with the United States, in order to explore avenues for reestablishing progress and momentum.
The Ministry of Finance has started working on a Plan B with the IMF.
Pakistan’s economic team could not even convince the IMF on the arrangements made for external financing.
The IMF’s reservations on the new federal budget for the fiscal year 2023-24 also remain.
Since the negotiations came to a halt with no progress, the finance minister also met with the ambassadors of various countries and informed them about the talks with the IMF.
On the recommendation of Finance Minister Ishaq Dar, ambassadors of various countries will reportedly hold talks with the IMF.
