Positive results expected, talks with IMF progressing well, says Ishaq Dar

Finance Minister Ishaq Dar has said that positive results have been expected as talks with the International Monetary Fund (IMF) were progressing well.

Dar, while speaking to media in London, has said that in 58 meetings with IMF and the World Bank, discussions were held with top management.

The finance minister said that the recent increase in value of US dollar was not a grave concern as the real value of dollar was much lower than the current rate. He expressed hope of dollar coming to its real value.

Speaking about his meeting with Nawaz Sharif, he said that number of issues were discussed but it was not necessary that media should be informed about everything.

Earlier, Dar gave an interview to Reuters on Sunday and said that rescheduling of $27 billion of non-Paris Club debt was being sought but he will not pursue cuts as part of restructuring.

He said that there was no possibility of the country’s default due to debt, further saying that multilateral development banks and international donors had been flexible so that Pakistan could meet external financing requirements that had been estimated at about $32 billion caused due to the floods.

Finance minister also had said that some of this would come from previously approved reallocating funds and slower disbursement loans. He also said that restructuring on equal terms for all bilateral creditors was being sought.

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