Will continue to help Pakistan, says IMF MD

Premier reassures he will not tolerate even the slightest violation of the agreement

International Monetary Fund (IMF) Managing Director Kristalina Georgieva, during a call with Prime Minister Shehbaz Sharif, said the global lender will continue to help Pakistan.

During the conversation, Georgieva said that the global lender had reservations because of the mistrust created in the past between the fund and the Pakistani government.

“I am sure that PM Shehbaz will fulfill the promises,” stated Georgieva.

She added that the premier showed wisdom and determination to fulfill the agreement in the meeting in Paris, adding that the leadership shown by the prime minister is also admirable.

“That's why we will help you,” the managing director assured the premier.

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Georgieva added that a strong partnership and mutual trust has now been established between Pakistan and the IMF, adding that Islamabad is a key member of the global lender.

The premier said that “you (IMF MD) spoke very frankly and positively in the meeting in Paris”, adding that “this morning, I also met with my economic team and made it clear that I will not tolerate even the slightest violation of the agreement”.

PM Shehbaz further informed Georgieva that the current government’s tenure will end by August 12 and a caretaker set-up will then take over the government prior to general elections.

“After the election, if the people elect us, we will turn around the economy with the help of the IMF,” the PM added.

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He also paid tribute to the professionalism and leadership of the global lender’s managing director and said “there are no words to thank you for the way you have helped Pakistan”.

Shehbaz further said that Pakistan produces the best and tastiest mangoes in the world, adding that “I am sending you a gift of mangoes as a sign of respect for you”.

After the meeting with IMF MD in Paris, PM Shehbaz informed Finance Minister Ishaq Dar and the country's finance team worked toward securing a new loan programme from the global lender.

The prime minister had directed his economic team to answer every question on IMF terms and answering questions on these terms paved the way for the agreement.

PM Shehbaz played a key role in getting both parties to agree on the agreement.