Amid worsening economic crisis, Pakistan seeks US help to soften IMF terms

ISLAMABAD: Pakistan on Wednesday turned to US authorities asking them to use their diplomatic influence for convincing the International Monetary Fund (IMF) to soften loan conditions as the country is passing through a critical phase both economically and politically.

This request was made by Federal Finance Minister Ishaq Dar in his meeting with the visiting Deputy Assistant Secretary of the US Department of the Treasury for Asia, Robert Kaproth, at the Finance Division on Wednesday.

The loan programme is stalled since months and the Shehbaz Sharif government is finding it hard to implement the lender’s conditions amid a tense political environment in the country with elections due in months.

The government is in a fix as imposing more taxes on the already-burdened citizenry will put the ruling alliance in a more difficult situation with inflation at all-time high and fast-depleting forex reserves.

The friendly countries have also told Islamabad that the revival of the IMF loan facility will unlock other sources of financial help badly needed for economic stability.

An official announcement here said that Senior Macroeconomist for the Department of Treasury for Pakistan Eva Ghirmai, Financial attache’ Larita Bolden, Minister of State for Finance and Revenue Dr Aisha Ghous Pasha, SAPM on Finance Tariq Bajwa, secretary of finance and senior officers from Finance Division attended the meeting.

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