Fund negotiations: Pakistan refuses to accept IMF conditions

Discussions regarding a new loan between the government and IMF have failed.


Web Desk June 28, 2013
Pakistan claims IMF conditions are too harsh. ILLUSTRATION: JAMAL KHURSHID

ISLAMABAD: Pakistan has refused to accept any of the conditions offered in the new program by the International Monetary Fund (IMF), Express News reported.

Reasons for the refusal were attributed to the harsh nature of the conditions proposed by IMF.

Earlier on Friday, the government had paid $260 million to the International Monetary Fund (IMF) as a part of loan repayment.

On Thursday, Finance Minister Ishaq Dar rejected IMF’s demand to levy new taxes worth Rs275 billion as a pre-condition for new program.

The draft containing details of the conditions that IMF asked Pakistan to impose will be given to the finance officials on Sunday.

COMMENTS (57)

sgrr | 8 years ago | Reply

@Xnain: @I MF: Now both parties GoP and IMF are happy, they both achieved objectives, i.e. to obtain loan and to give loan. It was the main purpose, remaining all formalities. It was a nerve game wherein both succeeded. And I am sure that next time IMF will again come and offer loan to repay the old ones. They are just interested in that 3% i.e. Interest.

sgrr | 8 years ago | Reply

@I MF: Who is going to default, Sir, its a game of nerve, let's see who will win, or they will set in the middle and both will claim that we gave/receive loan on our conditions. This will be win win position for both parties to announce for the media.

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