Bilawal Bhutto criticizes IMF for delaying the loan programme. Foreign Minister has stated that the International Monetary Fund (IMF) is not being fair to Pakistan, which is facing serious crises.
In an interview with the Associated Press on Friday, Bilawal Bhutto said that Pakistan was facing an economic crisis, the consequences of last year’s catastrophic flooding and terrorism which was “once again rearing its ugly head”.
Foreign minister Bilawal Bhutto criticizes IMF for delaying the loan programme. He stated that the PPP supported increasing revenue collection and believed that the wealthy should pay more. He claimed that Pakistan had failed to achieve structural tax reform.
The IMF is not treating Pakistan fairly, which is also dealing with 100,000 new refugees as a result of the West’s withdrawal from Afghanistan.
He further said that the IMF was stretching out talks at a time when the country needed money to help the “poorest of the poor”.
He further said that Pakistan had a “very healthy economic relationship” with China that was “also in the spotlight as a result of geopolitical events”.
Read IMF to monitor policy implementation by Pakistan
Cash-strapped Pakistan is in a race against time to implement measures to reach an agreement with the Fund. The agreement with the IMF on the completion of the ninth review of a $7 billion loan programme — which has been delayed since late last year — would not only lead to a disbursement of $1.2bn but also unlock inflows from friendly countries.
The prerequisites by the lender are aimed at ensuring Pakistan shrinks its fiscal deficit ahead of its annual budget around June.
As a final step, the international lender has demanded that Pakistan guarantee that its balance of payments deficit is fully funded for the duration of an IMF programme.
Foreign Minister @BBhuttoZardari held a bilateral meeting with the United Nations Secretary-General @antonioguterres 🇵🇰🇺🇳on the sidelines of #CSW67. pic.twitter.com/9WBa5b7MIs
— PPP (@MediaCellPPP) March 11, 2023
