Pakistan PM meets IMF’s Georgieva, hopes funds to be released ‘as soon as possible’

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Pakistan hopes funds allocated under the International Monetary Fund’s bailout program will be released as soon as possible, the country’s prime minister said on Thursday, adding that the nation remains committed to fulfill all necessary requirements.

With a little over a week go to before the IMF’s Extended Fund Facility (EFF) expires at the end of June, Pakistan Prime Minister Shehbaz Sharif met IMF managing director Kristalina Georgieva on the sidelines of the new Global Financing Summit in Paris, his office said.

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“The Prime Minister expressed the hope that the funds allocated under the IMF's EFF would be released as soon as possible,” the statement said.

Pakistan has barely enough currency reserves to cover one month’s imports. It had hoped to have $1.1 billion of the funds released in November but the IMF has insisted on a number of conditions being met before it makes any more disbursements.

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