IMF’s all conditions accepted, PM hopes ninth review approval this month

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    Prime Minister Shehbaz Sharif has said that all the conditions for the agreement with the IMF have been accepted in letter and spirit, hoping that the ninth review will be approved this month.

    Addressing the federal cabinet meeting, he said that yesterday the Finance Minister held a very vigorous press conference regarding our economic situation and it is not hidden that ever since we took charge of the state, our first test was the restoration of the agreement with the IMF, which was sabotaged by the previous government.

    The Prime Minister said that the previous government had broken the agreement made by it, then with great difficulty we negotiated with the IMF, last year’s floods also caused immense damage to the economy.

    Shahbaz Sharif said that this meeting of the cabinet is for the approval of the budget, after approval it will be presented in the assembly.

    He said that we are reuniting with the IMF and all the conditions of the IMF have not only been accepted in letter and spirit, but we have fully implemented all the pre-emptive measures, but the staff level agreement has not yet been signed with the IMF.

    It is to be expected that after meeting all the conditions, the ninth review of the IMF will be completed this month and its approval will be taken from the board.

    “I had an hour-long telephonic conversation with the IMF MD and as a result of that conversation, I can say, I suggested to him that if you make a verbal commitment, based on that, we will take the one or two remaining steps that you have said,” he said.

    Shahbaz Sharif said that we had meetings with all the stakeholders, the essence of which is that if we take steps in the agricultural sector, then results can be achieved very soon, the agricultural production capacity of other countries has doubled or even more, have we made any progress in this, my answer is that no substantial progress has been made.