Even Without IMF, Pakistan Won’t Default: Dar

Finance Minister Ishaq Dar stated Thursday that Pakistan will not default if the IMF loan programme is not restarted.

The finance minister told the Islamabad Security Dialogue not to disseminate debt default rumours.

The minister maintained that Pakistan has taken all steps to revive the loan programme. He said Pakistan must repay $3.7 billion in debt by June and will meet its obligations.

The government also warned foreign rating agencies from discussing Pakistan’s default.

Today, the IMF stated it is working with Pakistan to get money and policy assurances for the ninth review of the $6.7 billion loan approved in 2019.

Pakistan may default without an IMF rescue, Moody’s warned on Tuesday.

On May 5, the State Bank of Pakistan reported $4.383 billion in foreign currency reserves.

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