PM Shehbaz Sharif again dials IMF chief on bailout package

As the delay in IMF announcement to revive loan programme is wracking nerves in Pakistan, Prime Minister Shehbaz Sharif has again dialed International Monetary Fund Managing Director Kristalina Georgieva and discussed the latest situation with her about the bailout package for Pakistan, reported 24NewsHD TV channel.

The prime minister expressed the optimism about a deal with the IMF in a day or two.

Shehbaz Sharif made the telephonic contact with the IMF chief on Tuesday morning and deliberated upon issued relating to the IMF programme.

Recalling her recent meeting with the prime minister on the sidelines of New Global Financing Summit in Paris, Kristalina Georgieva acknowledged the efforts made by Pakistani finance minister and his team regarding completion of the IMF programme after their Paris huddle.

Shehbaz Sharif expressed the hope that unanimity on points relating to IMF programme will yield a favourable decision in a day or two.

On June 22 last, Shehbaz Sharif had held a meeting with the IMF chief in Paris, hoping funds allocated under the IMF's bailout programme will be released as soon as possible, as Pakistan remained committed to fulfill all necessary requirements.

With only four days to go before the IMF's Extended Fund Facility (EFF) expires at the end of June.

A statement released after the Paris meeting had said: “The Prime Minister expressed the hope that the funds allocated under the IMF's EFF would be released as soon as possible."

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.

Reporter Awais Kiyani