Pakistani Prime Minister Shehbaz Sharif met with IMF Managing Director Kristalina Georgieva on June 22, 2023, to discuss the country’s economic situation and the release of stalled IMF funds.
Sharif briefed Georgieva on Pakistan’s IMF program progress, mentioning tough economic reforms. He hoped for the release of $1.17 billion in the next tranche of funds.
The IMF has suspended the release of funds to Pakistan since May 2022, citing concerns about the country’s economic performance. However, the IMF has said that it is willing to resume the release of funds if Pakistan meets certain conditions, including further reforms to its economy.
The IMF’s release of funds to Pakistan is uncertain. Sharif and Georgieva’s meeting suggests ongoing discussions.
The release of IMF funds is crucial for Pakistan. It would stabilize the country’s economy and prevent default on external debt. However, the IMF may be cautious in releasing funds. It wants to ensure Pakistan’s commitment to agreed reforms.
The meeting between Sharif and Georgieva is a step in the right direction, but it is too early to say whether the IMF will release the next tranche of funds. The two sides will need to continue to negotiate in order to reach an agreement.
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