Finance Minister Muhammad Aurangzeb revealed on Monday that attempts were made to obstruct Pakistan’s engagement with the International Monetary Fund (IMF), but said the efforts were unsuccessful and the country’s case was ultimately decided on merit.
“There was no stone left unturned in terms of ensuring that the meeting with the IMF does not happen,” Aurangzeb said, speaking at an event organised by Karandaaz Pakistan and the Pakistan Banks Association (PBA) in Islamabad.
“If the meeting does happen, then these items are not on the agenda—whether it’s the second tranche under the Extended Fund Facility (EFF) or the $1.3 billion under the Resilience and Sustainability Facility (RSF). However, we are beyond that, and our case was discussed and decided on merit.”
His remarks came as he addressed the recent escalation of tensions between Pakistan and India. “These are very tense moments. The entire nation has rightly celebrated the way our armed forces and political leadership have stood up against the aggression,” he said, drawing a parallel with the need for economic unity.
Just days earlier, IMF spokesperson Julie Kozack confirmed that Pakistan met all its targets under the EFF. “Our Board found that Pakistan had indeed met all of the targets. It had made progress on some of the reforms, and for that reason, the Board went ahead and approved the programme,” she stated.
Earlier this month, the IMF Executive Board approved the first review of Pakistan’s 37-month, $7-billion EFF programme, along with a new arrangement under the RSF that will provide Pakistan with access to around $1.4 billion.
