Pakistan To Strike Staff-Level Agreement with IMF ‘Next Week’

BUSINESS:Ishaq Dar, the federal minister of finance and revenue, said on Thursday that Pakistan and the International Monetary Fund (IMF) would reach a staff-level agreement next week as negotiations neared their conclusion.

The minister’s statement came as experts attributed the deteriorating economy to the stalled IMF deal and the rupee fell to a record low of 285.09 against the dollar.

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Anti-Pakistan elements are spreading malicious rumors that Pakistan may default. This is not only completely false but also belie the facts. SBP forex reserves have been increasing and are almost
US $ 1 billion higher than four weeks ago despite making all external… 1/2

— Ishaq Dar (@MIshaqDar50) March 2, 2023

due payments on time. Foreign commercial banks have started extending facilities to Pakistan. Our negotiations with IMF are about to conclude and we expect to sign Staff Level Agreement with IMF by next week. All economic indicators are slowly moving in the right direction. 2/2

— Ishaq Dar (@MIshaqDar50) March 2, 2023