Pakistan says it agrees to IMF terms on release of $1.1bn payout
Al JazeeraNov 26, 2022
The Facts
With Pakistan's $6.5B loan program set to expire on June 30, the government of Pakistan has made a plea to the International Monetary Fund (IMF) to release a $1.1B tranche, pending since November last year.
Pakistan's Prime Minister, Shehbaz Sharif, met IMF Managing Director Kristalina Georgieva at the Summit for a New Global Financing summit in Paris, asking the IMF to release bailout funds as soon as possible while noting that the South Asian nation remains committed to fulfilling all requirements.
The Spin
Pro-establishment narrative
Pakistan's economy is on the brink. However, the chances of Pakistan meeting the IMF's conditions are low due to the severe political turmoil. The South Asian nation is at risk of defaulting on its debt obligations as its financing options beyond June are highly uncertain.
Establishment-critical narrative
Pakistan can't let itself be a hostage to the IMF and allow itself to be treated like the West's de-facto colony. The country will execute a contingency plan if the June 30 deadline is met without concessions, which includes working on rescheduling the bilateral external debt of over $27B next month and turning to China to come out of the global lender's clutches.
