According to Reza Baqir, Governor of the State Bank of Pakistan (SBP), Pakistan’s negotiations with the International Monetary Fund (IMF) are progressing in a favorable manner.
He was addressing a group of Pakistanis living abroad on Tuesday at an event in London.
The governor of the SBP stated that discussions with the fund are proceeding in a constructive manner, and advisor to the Prime Minister on Finance, Shaukat Tarin, has departed New York for Washington to sign the deal.
Prior to this, Finance Adviser Shaukat Tarin had urged the country not to be discouraged by reports that the Pakistan-International Monetary Fund (IMF) discussions had failed and urged them to maintain their optimism.
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“Discussions with the IMF are currently underway, and they will be successful InshaAllah,” Shaukat Tarin had stated in a press conference in New York.
He had previously stated that the Secretary of Finance was still in Washington and that the Chairman of the Federal Board of Revenue (FBR) was in contact with the delegation that was in Washington for talks with the International Monetary Fund (IMF).
He went on to say that the meeting with the IMF’s managing director was productive and that the fund’s discussions will be constructive. In response to a question, former finance minister Shaukat Tarin stated that banks constantly demand that we “do more,” but that we [Pakistan] are unable to go beyond the redlines.