Pakistan PM urges speedy release of IMF bailout funds

Pakistan hopes funds allocated under the International Monetary Fund's bailout programme will be released as soon as possible, the country's prime minister said on Thursday.
Pakistan's Prime Minister Shehbaz Sharif speaks at a news conference, during a summit on climate resilience in Pakistan, months after deadly floods in the country, at the United Nations, in Geneva, Switzerland, January 9, 2023.
Pakistan's Prime Minister Shehbaz Sharif speaks at a news conference, during a summit on climate resilience in Pakistan, months after deadly floods in the country, at the United Nations, in Geneva, Switzerland, January 9, 2023. REUTERS/Denis Balibouse/File photo

(Reuters) - Pakistan hopes funds allocated under the International Monetary Fund's bailout programme 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.

"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.

(Reporting by Asif Shehzad, writing by Shilpa Jamkhandikar; editing by Sudipto Ganguly)

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