Following the staff-level agreement (SLA) with the International Monetary Fund (IMF) on a stand-by arrangement (SBY), Prime Minister Shehbaz Sharif said his meeting the global lender’s Managing Director Kristalina Georgieva in Paris was the “turning point” for Pakistan.
PM Shehbaz shared with the nation the hurdles of securing the long awaited IMF deal in a press conference after he oversaw the signing of the SLA in Lahore. The PM spoke to the media wile being flanked by Finance Minister Ishaq Dar, Information Minister Marriyum Aurangzeb and Punjab Governor Baligh Ur Rehman.
PM Shehbaz said that he held two meetings with the IMF chief on the sidelines of the Summit for a New Global Financial Pact in Paris. He added that the IMF chief told him that the lender does not want Pakistan to default.
“The IMF MD said we will move forward you also move ahead,” said the PM. He added that Pakistan will start receiving the tranche after the July meeting of the IMF Executive Board.
The premier said that everyone in the coalition government lost their political capital to ensure that Pakistan does not default. He also lauded his finance minister for his hard work.
The PM also urged the nation to pray that the SBY is the last IMF programme that the country is taking.
“Countries do not succeed by taking loans, we are forced to take loans,” said The PM. He added that the common man has been sacrificing since the last 75 years.
