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PM thanks IMF director for playing a role in US$3 billion Standby Agreement

PM thanks IMF director for playing a role in US$3 billion Standby Agreement
July 15, 2023 Web Desk

ISLAMABAD (92 News) - Prime Minister Muhammad Shehbaz Sharif had a telephonic conversation with IMF Managing Director Kristalina Georgieva on Friday.

The prime minister conveyed profound gratitude to the managing director for her support and assistance in materializing the recently concluded standby agreement for US$3 billion.

He appreciated the MD for her leadership and professionalism. He also acknowledged that MD felt for the poor and termed her support as invaluable. The IMF MD said that prime minister of Pakistan built a very convincing case, though the IMF Board was skeptical about Pakistan’s commitment to fulfilling the conditions of agreement due to the past trust deficit.

"However, in the light of her continued engagement with the prime minister, she assured the Board that Pakistan will deliver on its commitments as she had personally met the prime minister and seen his seriousness to deliver." She acknowledged the leadership shown by the prime minister. She underlined that there was strong partnership and mutual trust between both the parties now. Terming Pakistan as an important member of IMF, she reassured to continue to help Pakistan.

The prime minister, on the occasion, appreciated IMF MD Georgieva for her positive approach and her frank comments during the prime minister's interaction with her in Paris. "Eventually, the hard work on both sides paid off and the Standby Arrangement (SBA) was signed."

The prime minister reassured that he will not tolerate an iota of violation of this agreement. "This government is here till August after which an interim government will take over and he is confident that they will continue to fulfill the obligations. After the elections, if the people of Pakistan re-elect his government, he is committed to turn over the economy with the help of IMF and development partners," he said.