General Bajwa asks the Biden government to hasten the Pakistan-IMF agreement

 

General Bajwa asks the Biden government to hasten the Pakistan-IMF agreement

General Bajwa asks the Biden government to hasten the Pakistan-IMF agreement

ISLAMABAD: As per Nikkei Asia, Chief of Army Staff General Qamar Javed Bajwa has contacted the White House to ask for assistance in securing an accelerated payment from the International Monetary Fund (IMF).

As per newspaper's correspondent Wajahat S Khan, General Qamar Javed Bajwa called US Assistant Secretary of State Wendy Sherman and urged with her to hasten the IMF's $1.2 billion disbursement.

The military commander's unexpected event triggers as Pakistan's economic conditions, brought on by declining forex assets, continues to deteriorate.

The state had already contacted President Joe Biden's government to request the reinstatement of the $six billion credit facility. Miftah Ismail, the national finance minister, met with the US representative in Islamabad to ask for help from the US administration in persuading the IMF to revive the rescue plan.

The nation and the lender came to a staff-level arrangement earlier in the month, but the postponement in the payout has put strain on the nation's finances as the political situation worsens.

A discussion regarding if Pakistan may collapse has been triggered by news that the IMF's council meeting is scheduled for the 3rd week of August.

To restart its delayed IMF package, Pakistan committed to take some rather drastic actions, including eliminating fuel commodity discounts, raising electric and gas prices, and raising taxes.

The average person has suffered as a result of these actions, but the currency sector have been shaken by the wait in the transferring money, causing the rupees to drop to an all-time bottom in the international market and trade at about 240 to the USD.

The Shahbaz Sharif-led administration has already been working tirelessly to win back corporate trust, but no amount of exertion has indeed been able to provide stability.

General Bajwa asks the Biden government to hasten the Pakistan-IMF agreement


 
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Location: Pakistan

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