Our economic challenge is unimaginable, have to agree to IMF bailout conditions: Pak PM Shehbaz Sharif
1 min read . Updated: 03 Feb 2023, 01:48 PM IST
Premium- 'You all know we are running short of resources,' Shehbaz Sharif said, adding Pakistan at present was facing an economic crisis
Pakistan's Prime Minister Shehbaz Sharif said Friday that the government would have to agree to IMF bailout conditions that are "beyond imagination".
"I will not go into the details but will only say that our economic challenge is unimaginable. The conditions we will have to agree to with the IMF are beyond imagination. But we will have to agree with the conditions," Shehbaz Sharif said in televised comments.
Sharif made the comments in a meeting of civil and military leaders in the northwestern city of Peshawar he chaired to prepare a response to Monday's mosque bombing that killed more than 100 people.
"Our economic situation is unimaginable," the premier said. "As you know, the IMF mission is in Pakistan, and that's giving us a tough time," he said.
"You all know we are running short of resources," Sharif said, adding Pakistan at present was facing an economic crisis.
IMF's Pakistan representative did not immediately respond to Reuters request for comment.
The IMF mission is visiting Pakistan to discuss fiscal consolidation measures the institution needs from Pakistan to clear a 9th review of its Extended Fund Facility, aimed at helping countries facing balance-of-payments crises.
Pakistan is in a $6.5 billion IMF programme. An IMF delegation is in Pakistan to restart talks stalled since November for $2.5 billion funds yet to be disbursed.
