ISLAMABAD: Pakistani Prime Minister Shehbaz Sharif met with IMF Managing Director Kristalina Georgieva in Paris on Thursday to discuss releasing the blocked funds before the credit line expires next week. The Paris pitch came amid claims at home that Shehbaz’s Finance Minister Ishaq Dar slapped a reporter who asked him questions about the blocked funds.
In Paris, on the sidelines of the summit for a new global financial compact, Shehbaz informed Kristalina of the steps being taken to address Pakistan’s weak economy, growth and stability. He expressed hope that funds provided under the IMF’s Extended Fund Facility (EFF) will be released soon.
The IMF’s ninth review under the 2019 EFF to release $1.2 billion — part of a $6.7 billion bailout — is pending, with just eight days until the end of the EFF program on June 30th.
Financially strapped Pakistan was due to receive the $1.2 billion in October last year, but that tranche didn’t go through because Pakistan failed to meet key requirements, according to the IMF.
This delay has made the tenth review of the program, which was originally part of the plan, all but impossible. In Islamabad, FM Dar’s controversy erupted when he lost his composure after the journalist asked him why the IMF deal fell through. “Because people like you are in the system,” he snapped.
The reporter replied, “We’re not in the system… we’re just asking questions.” At this point, Dar turned angrily and his guards pushed the journalist away. Later, the reporter released a video. “Dar’s guards grabbed me and the vicar slapped me,” he claimed.
