State Bank of Pakistan (SBP) Governor Reza Baqir on Monday said that the central bank is confident that it will soon announce the “good news” of completing the conditions required to obtain the next tranche of the International Monetary Fund (IMF).
In an exclusive interview with Bloomberg, Baqir stated that it is “no surprise” that “unpopular decisions” required by the IMF, such as, increasing fuel and electricity prices, are proving to be difficult given the current political situation.
He added that such problems were not individual to Pakistan but to other developing nations as well.
In light of these “unpopular decisions”, the SBP governor stated that it is not uncommon for institutions to face delays. However, he felt confident that Pakistan will “put the delay behind” it and announce the completion of the upcoming tranche.
