Business Standard

IMF denies tying to compromise on Pak's nuke capability in bailout: Report

The IMF rubbished claims that it has attached nuclear-programme-related strings for the revival of Pakistan's much-anticipated bailout programme that has been stalled for months, a media report said

IMF

(Photo: Bloomberg)

Press Trust of India Islamabad
The IMF on Monday rubbished claims that it has attached nuclear-programme-related strings for the revival of Pakistan's much-anticipated bailout programme that has been stalled for months, a media report said.
Cash-strapped Pakistan is awaiting a much-needed USD 1.1 billion tranche of funding from the Washington-based International Monetary Fund (IMF), which was originally due to be disbursed in November last year.
The funds are part of a USD 6.5 billion bailout package the IMF approved in 2019, which analysts say is critical if Pakistan is to avoid defaulting on external debt obligations.
Pakistan, currently in the throes of a major economic crisis, is grappling with high external debt, a weak local currency and dwindling foreign exchange reserves enough to shore up for barely one month's imports.
Esther Perez Ruiz, IMF's resident representative in Islamabad, has denied attaching any strings to the External Fund Facility (EFF), according to Geo TV.
Regarding recent speculation that programme discussions with the authorities for the ninth review under the IMF-supported programme may have covered Pakistan's nuclear weapons programme, I want to be categorical that there is absolutely no truth to this or any insinuated link between the past or current IMF supported programme and decision by any Pakistani government over its nuclear programme, the report said, quoting the official.
The IMF chief said discussions have exclusively focused on economic policies to solve Pakistan's economy and balance of payments problems, in line with the Fund's mandate for promoting macroeconomic and financial stability.
It comes days after Pakistan's Finance Minister Ishaq Dar assured Parliament that the federal government would not make any compromise on the country's nuclear and missile programme despite tough economic conditions and hurdles to secure a loan from the IMF.
Let me assure you that nobody is going to compromise anything on the nuclear or the missile programme of Pakistan no way, Dar told Parliament last week.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 20 2023 | 9:48 PM IST

Explore News