iPhone | iPad
Android
Huawei
US President Joe Biden said that the Chinese spy balloon has been shot down successfully
KT APPDOWNLOAD
Pakistan committed to completing IMF programme: Finance minister
Review for the release of next tranche of funding has been pending since September, leaving the country in dire need of external financing
Pakistani Finance Minister Ishaq Dar during an interview at the Pakistani Embassy in Washington. — AP file
Pakistan is committed to completing the International Monetary Fund programme while meeting external debt repayments on time, the country's finance minister said on Tuesday during a meeting with the ambassador of its top bilateral lender China.
An IMF review for the release of its next tranche of funding has been pending since September, leaving Pakistan in dire need of external financing.
Pakistan's finance minister, Ishaq Dar, last week told local television that all targets for the IMF's ninth review had been completed, and said the IMF was "behaving abnormally" by not completing the review.
"The Finance Minister ... apprised the Chinese Ambassador that the Government remains committed to completing the IMF programme while meeting all external debt repayments on time," Pakistan's finance ministry said in a statement.
According to the statement, Dar added that Pakistan's government had a "realistic plan" for dealing with spending required to rehabilitate areas affected by devastating flooding a few months ago. Officials have estimated damage from floods at $40 billion.
Pakistan is facing a widening current account deficit and a balance of payments crisis. Dar last week said Pakistan's foreign reserves, which have dropped to $7.5 billion, will be shored up with a $3 billion financing from a friendly country in the next two weeks.
More news from World
Departures, arrivals have been paused because of a 'national security effort'
The US president urges the world to sow the seeds of fraternity across all peoples, religions and beliefs
This is spurred by strong harvest progress and favourable weather conditions in some parts of the world
The pharma company has initiated a voluntary recall at the consumer level of all unexpired lots of the eye drops
Organisers of Copenhagen Fashion Week have created sustainability requirements for participating designers with the goal of setting a new industry standard
UK home office report says 250 Indian migrants have made the dangerous crossing of English Channel in small boats in 2023
The US took "custody" of the balloon when it entered their airspace and had observed it with piloted military aircraft