Pakistan: Shehbaz Sharif asks IMF chief for early release of stalled bailout fund

With just days left for the scheduled expiry of the $6.5 billion loan programme, Pakistani Prime Minister Shehbaz Sharif on Tuesday held a phone call with International Monetary Fund (IMF) Managing Director Kristalina Georgieva, expressing hope that the global lender would announce a decision pertaining to the release of bailout funds within a day or two. The ninth review by the IMF under the 2019 Extended Fund Facility (EFF) for the release of a $1.2 billion tranche will expire on June 30. The cash-strapped nation was expected to get the amount in October last year, however it has not materialised yet as the IMF said Pakistan has been unable to meet important prerequisites, Dawn reported. Last week, Sharif held back-to-back meetings with Georgieva in Paris. Sharif and Georgieva discussed the IMF programme today, according to a statement released by the Prime Minister’s Office (PMO). “In connection with the meetings held in Paris, the IMF director general acknowledged efforts by the finance minister and his team for completion of the programme,” it said. (With inputs from agencies) Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook , Twitter and Instagram .