Prime Minister of Pakistan Muhammad Shahbaz Shareef is expected to meet the Managing Director of International Monetary Fund (IMF) on the sidelines of the summit for a new Global Financial Pact in Paris.
The summit for a new Global Financial Pact in Paris is going on amid a steep fall in foreign loans disbursements to just $8.4 billion this fiscal year.
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Pakistan has requested for a meeting between Prime Minister Shahbaz Shareef and IMF Managing Director Kristalina Georgieva on the sidelines of the Paris Summit that is taking place from June 22 to 23.
Pakistan’s efforts to restore IMF Programme
Pakistan is making efforts continuously to restore the programme with IMF. The premier on Monday also met with foreign ambassadors to apprise them about Pakistan’s efforts to restore the programme.
The Paris summit will also look into the ways for restoring financial space to countries facing short-term difficulties, especially the most indebted states.
The State Bank of Pakistan governor had earlier said that the majority of the projected loans were expected to be distributed during the second half of the current fiscal year. Pakistan also received $473 million in May, which is less than the monthly external debt payment.
However, The Ministry of Finance had estimated receiving $1.63 billion under the Naya Pakistan Certificates but the actual disbursements so far remained at $743 million.
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The meeting between Prime Minister Shahbaz Shareef and Managing Director of IMF is expected to solve more problems of Pakistan and finalise the delayed bailout package with the organization.