Ishaq Dar, the federal minister of finance, asserted that Pakistan had fulfilled all requirements for a staff-level agreement put forth by the International Monetary Fund (IMF) and that the executive board of the lender’s mission for review will soon adopt a staff-level agreement.
Dar stated on Monday that the IMF would shortly sign the staff level agreement with Pakistan and receive approval from its executive board.
The country has alerted the Washington-based lender about money from Saudi Arabia and the United Arab Emirates, according to the finance minister. He stated that “Saudi Arabia and the UAE have confirmed that they will give Pakistan, respectively, $2 billion and $1 billion.”
Martin Raiser, vice president for South Asia at the World Bank (WB), and Dar previously met virtually. The gathering was a part of the Washington, D.C.-hosted WB-IMF Spring Meetings 2023.
According to a press statement from the finance ministry, he informed the official that important changes including the harmonisation of the GST had been accomplished under the Resilient Institutions Strengthening Programme-II (RISE), a programme backed by the World Bank.