© Reuters. Pakistan’s Prime Minister Shehbaz Sharif speaks at a news conference, during a summit on climate resilience in Pakistan, months after deadly floods in the country, at the United Nations, in Geneva, Switzerland, January 9, 2023. REUTERS/Denis Balibouse/Fil

(Reuters) – Pakistan hopes funds allocated under the International Monetary Fund’s bailout programme will be released as soon as possible, the country’s prime minister said on Thursday, adding that the nation remains committed to fulfill all necessary requirements.

With a little over a week go to before the IMF’s Extended Fund Facility (EFF) expires at the end of June, Pakistan Prime Minister Shehbaz Sharif met IMF managing director Kristalina Georgieva on the sidelines of the new Global Financing Summit in Paris, his office said.

“The Prime Minister expressed the hope that the funds allocated under the IMF’s EFF would be released as soon as possible,” the statement said.

Pakistan has barely enough currency reserves to cover one month’s imports. It had hoped to have $1.1 billion of the funds released in November but the IMF has insisted on a number of conditions being met before it makes any more disbursements.

See also  4 signs the Bitcoin price rally could top out at $26K for now


Source link

(This article is generated through the syndicated feed sources, Financetin doesn’t own any part of this article)

Leave a Reply

Your email address will not be published. Required fields are marked *