ISLAMABAD: Pakistan’s negotiations with the International Monetary Fund (IMF) were about to conclude and Staff Level Agreement with the Fund was expected next week, Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar said on Thursday.
In a tweet, the finance minister said some Anti-Pakistan elements were spreading malicious rumours that Pakistan might default.
He said these rumours were not only completely false but also belied the facts. The State Bank of Pakistan’s (SBP) foreign exchange reserves had been increasing and were almost US $ 1 billion higher than four weeks ago despite making all external due payments on time, he added.
The finance minister said the foreign commercial banks had now started extending facilities to Pakistan.
“Anti-Pakistan elements are spreading malicious rumors that Pakistan may default. This is not only completely false but also belies the facts. SBP forex reserves have been increasing and are almost US $ 1 billion higher than four weeks ago despite making all external… due payments on time. Foreign commercial banks have started extending facilities to Pakistan. Our negotiations with IMF are about to conclude and we expect to sign Staff Level Agreement with IMF by next week. All economic indicators are slowly moving in the right direction, ” he tweeted.