ISLAMABAD: Pakistan’s Finance Minister Ishaq Dar said on Thursday that Pakistan would not default, even if a stalled loan programme with the IMF was not revived. He made the remarks during his speech at the Islamabad Security Dialogue.
Ishaq Dar said “rumors” regarding Pakistan defaulting on its debt obligations must not be spread.
“Whether the agreement with the IMF is there or not, Pakistan will not default,” he emphasized.
Dar also said that Pakistan had fulfilled all conditions and taken measures towards reaching a deal with the IMF for reviving the stalled programme. “Global politics based on injustice with Pakistan should also be ended. Globally, people are astonished at how Islamabad is managing,” the minister added.
Ishaq Dar said added that Pakistan had to pay debts amounting to $3.7 billion until June, adding that Pakistan would fulfil all promises and make timely payments. Technical discussions with the IMF ended on 9 February and there was a “gap” on the matter of the external account, he said.
Ishaq Dar on default
Dar said that if the IMF wanted more time for the staff-level agreement, it can take it. Pakistan would pay the external debt repayments in May and June on time. Dar further said that international rating agencies should not discuss Pakistan’s default as financing would be arranged for payments in the current financial year as friendly nations had promised help.
