Esther Perez-Ruiz told Reuters on Sunday: “There is no truth in the reports that the International Monetary Fund is asking Pakistan to raise new funds worth eight billion dollars.”
He said the conditions for providing external funding had not changed throughout discussions as part of a review that would pave the way for $1.1 billion to be provided to the South Asian country. Cash-strapped South under $6.5 billion IMF package.
An expert-level agreement on the review has been delayed since November, with almost 100 days since the last expert mission to Pakistan, the longest delay since at least 2008.
On Thursday, the IMF stressed that it was necessary to obtain commitments from friendly countries on external financing before agreeing to release bailout funds.
The United Arab Emirates, Saudi Arabia and China provided aid to Pakistan in March and April after pledging to cover part of the funding gap.
According to data released on Thursday, Central Bank of Pakistan reserves fell by $74 million to $4.38 billion, covering the value of imports for about a month.
Pakistani Finance Minister Ishaq Dar told a seminar on Thursday that Pakistan would not default on its debts, whether with or without IMF assistance, and that the country cannot take any further action. strict to comply with the conditions of the Fund.
Pakistan has backed away from a fuel subsidy program that had raised concerns at the International Monetary Fund.
Perez Ruiz said the Pakistani authorities made commitments to the fund during the spring meetings, which were held last month, not to implement the mutual support plan in fiscal year 2023 or beyond. .
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