IMF Managing Director Kristalina Georgieva informed him that a delegation would visit Pakistan in a matter of days, which Prime Minister Shehbaz Sharif affirmed on Friday. He said, “I told her to relax the terms of the contract since I cannot continue to tax the average guy.”
The PM remarked, “After asking about Pakistan’s relations with Saudi Arabia and China, she also told me that China had pressed IMF to support Pakistan.
The ninth review stage of the IMF programme is currently at a standstill, and experts believe Pakistan is reluctant to implement certain of the lender’s requirements.
As Pakistan struggles with a depreciating rupee, diminishing reserves, and little to nothing left over to assist the economy, the resumption of the bailout is crucial.
The foreign exchange reserves of the State Bank of Pakistan (SBP) decreased by $245 million on Thursday, reaching a risky total of $5.58 billion, their lowest level since April 2014.
Meanwhile, China, Saudi Arabia, and the United Arab Emirates have all declined to provide the country with crucial financial support. Overall, Pakistan is struggling to arrange foreign money as concerns about the nation’s ability to pay its debts and finance imports have grown as a result of this macroeconomic problem.