COAS calls UAE and Saudi officials to discuss IMF Program
RAWALPINDI: Chief of Army Staff (COAS) General Qamar Javed Bajwa, on Friday, calls the officials from the United Arab Emirates (UAE) and Saudi Arabia to discuss the International Monetary Fund (IMF) loan scheme, and significant developments for Pakistan are expected shortly, BOL News reported.
Last week, Gen Bajwa telephoned US Deputy Secretary of State Wendy Sherman in a highly unusual move. According to sources in Pakistan and United States, saying that Bajwa appealed for the White House and Treasury Department to push the IMF to immediately supply nearly $1.2 billion that Pakistan is due to receive under a loan program.
Earlier, on July 20, Bloomberg reported that the IMF wanted to ensure that Saudi Arabia would provide up to $4 billion in finance to Pakistan to ensure that Islamabad does not face a liquidity vacuum following the IMF loan. Gen Bajwa appealed for the White House and Treasury Department to push the IMF to immediately supply the loan.
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According to the details, if Pakistan faces a risk of being a defaulter country, the IMF board will not approve the loan for Shehbaz Sharif-led government.