Pakistani authorities turned to the United States for help after a delay in agreeing a new tranche by the International Monetary Fund (IMF), journalists with ARY News TV reported on March 13, citing their sources.
Treasury sources familiar with the course of events said the current administration decided to seek help from Washington as most of the fund’s requirements were met and a deal could not be concluded.
“There is no need for further delays in the agreement (with the IMF) at the staff level”— said the representative of the Ministry of Finance of Pakistan.
Before that, the government of the country, for the sake of an agreement with the fund, took unpopular measures that undermine its popularity among the citizens of the country. We are talking about the growth in tariffs and prices of fuels and electricity for companies and the population, the suppression of benefits and other saving measures.
Remember, the State Bank of Pakistan reported that the country had to pay $3 billion (230 billion rubles) to creditors by June, and payments of another $4 billion (305 billion rubles) were postponed to a later date.
According to official data, the Bank of Pakistan’s foreign exchange reserves currently amount to just over $4 billion (305 billion rubles), which is enough to cover necessary imports for 3-4 weeks.
At the same time, the terms for reaching a technical agreement with the IMF on the allocation of the next tranche for $ 1.2 billion (91 billion rubles) have not yet been definitively determined.
Source: Rossa Primavera
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