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Finance Minister Ishaq Dar dismisses rumors of failed talks with IMF

Dar expressed concern about certain elements attempting to undermine Pakistan's position, drawing parallels to Sri Lanka.

Islamabad,15 June, 2023(GNP): Finance Minister Ishaq Dar has dismissed rumors of failed talks between Pakistan and the International Monetary Fund (IMF), emphasizing that negotiations are still ongoing.

Speaking to journalists today, Dar assured that the 9th review of the IMF program is expected to be completed this month. He stated that payments have been made. Addressing concerns raised by Fitch Ratings and affirmed Pakistan’s commitment to timely payments until June 30.

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Dar expressed concern about certain elements attempting to undermine Pakistan’s position, drawing parallels to Sri Lanka. He emphasized the importance of upholding the sovereignty of the State Bank and completing amendments to the State Bank Act.

He emphasized that the State Bank belongs to Pakistan and is not controlled by any global institution. Timely payments, including bonds, remain a top priority.

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Denying rumors, Dar assured that the federal government has no plans to freeze lockers, gold, or Roshan Digital Accounts. He criticized the previous government, blaming them for the significant increase in debt from $70 billion to $130 billion over the past four years.

The finance minister urged the public not to be swayed by false information and reiterated Pakistan’s commitment to financial stability and meeting its obligations.