This dispute between Pakistan and the IMF has erupted when the Shahbaz government has to present the budget within just 10 days. Even after several talks, the agreement regarding the loan has not yet been reached. The Prime Minister of Pakistan Shehbaz Sharif himself has spoken to the MD of the IMF but till now nothing seems to be working. On the IMF’s statement, Pakistan’s Minister of State for Finance Aisha Ghaus Pasha said on Wednesday that the IMF’s statement is an interference in the country’s internal affairs.
Shahbaz begged the IMF
Pasha said that Pakistan’s behavior is according to the law. He termed the statement made by IMF’s head for Pakistan, Nathan Porter, on the political situation as extraordinary. Porter had hoped that on June 9, an agreement would be reached between the two countries. Pasha also disclosed that Shehbaz has assured that he will abide by all the conditions of the IMF. Pakistan wants the IMF to resume the $6.5 billion loan program.
Even though Pakistan is constantly pleading with the IMF, the possibility of getting a loan seems slim. IMF has also said that the government of Pakistan should talk to China regarding the terms of CPEC which has become a debt trap for it. Pakistan is taking loan from IMF to revive the economy but is spending it to repay the debt of China. Because of this IMF is not giving the next installment to Pakistan.