Pakistan seeks financing confirmation from Saudi Arabia and UAE
Pakistan has fulfilled all the demands of the IMF except for the written guarantee from Saudi Arabia and the United Arab Emirates.
Dubai ( UAE Updates – Arshad Butt )
Pakistan is communicating with Saudi Arabia and United Arab Emirates on daily basis at high level regarding early confirmation of financing.
According to Pakistan media sources, the Prime Minister’s Office, Foreign Office and Ministry of Finance are active in this regard. Pakistan is demanding early confirmation of more than 3 billion dollars financing.
According to the Ministry of Finance, written guarantee is not being given despite the acknowledgment from the friendly countries.
Official sources say that the staff-level agreement of IMF will take place after Saudi Arabia and the United Arab Emirates confirm funding, with the IMF seeking written guarantees of financing from the executive directors of those countries.
In this regard, Pakistan has fulfilled all the demands of the IMF except for the written guarantee from Saudi Arabia and the United Arab Emirates.
According to the news sources, the meeting of the Executive Board of the IMF will be possible after 4 weeks of the staff level agreement.