The government’s efforts to finalize the staff-level agreement with the International Monetary Fund appear to be bearing fruit.
The United Arab Emirates is likely to confirm financing of $1 billion this week, as per sources. The government’s debt recovery mission with the IMF is apparently moving at a fast pace. According to sources in the Ministry of Finance, matters for financing from the UAE have been almost finalized, and financing of $1 billion from the Arab country is expected to be confirmed this week.
Finance Minister Ishaq Dar had requested friendly countries for financing, while the Prime Minister Office is also functioning actively to fulfill the conditions of the IMF. The finance secretary is expected to update the IMF about the progress in fulfilling the lender’s conditions during his ongoing visit to Washington. As soon as a guarantee is received from the UAE authorities, the IMF will receive a written assurance. Saudi Arabia has already confirmed $2 billion financing.
