Dar blames ‘geopolitics’ for stalled IMF loan
Finance Minister Ishaq Dar continued with his ‘contradictory’ approach with the IMF, alleging on Thursday that geopolitics was behind a stalled loan programme as global institutions wanted Pakistan to default like Sri Lanka and then enter negotiations, but also insisting that negotiations with the Fund were ongoing and the ninth review would be complete this month. Testifying before the Senate’s standing committee on finance, he once again stressed that the country would meet its obligations with or without the Fund’s bailout package. He said no reason had been given by the IMF for the “unnecessary delay” behind the ninth review, which has been pending since November. “IMF or no IMF, Pakistan will not default,” he added. At the same time, he told journalists after the meeting that “everything is in order” and there was no need to worry as “everything is arranged”. In fact, he said, the IMF’s ninth review would be completed this month as negotiations were ongoing and not over yet.