COAS Qamar Bajwa discusses IMF programme with Saudi and UAE authorities

RAWALPINDI (92 News) - COAS Qamar Bajwa made a telephonic contact with the authorities of Saudi Arabia and the United Arab Emirates.

During the conversation, he discussed the matter pertaining to the IMF programme. The leadership of both countries assured the COAS of full cooperation in this regard. According to sources, Pakistan is likely to receive a good news soon.

A few days ago, COAS Qamar Bajwa had appealed to the White House to assist Islamabad in obtaining an early distribution of US$1.2 billion under the IMF programme to reduce the risk of defaulting on debt.

On July 13, the International Monetary Fund (IMF) announced that it had reached an agreement with Pakistan to restart a suspended loan programme worth $1.17 billion.

According to an IMF statement, the IMF staff and the Pakistani authorities have reached a staff level agreement on policies to complete the combined 7th and 8th reviews of Pakistan’s Extended Fund Facility (EFF). The IMF Executive Board meeting will be held at the end of August if adequate funding is assured to Pakistan.