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Miftah Ismail says Pakistan still faces risks of default: IMF-Govt talks are productive, says Ruiz

ISLAMABAD: PML-N leader and former finance minister Miftah Ismail said Pakistan is heading towards default.

Miftah advised the government to take steps to avert the threat of default.

Miftah Ismail was working as Finance Minister of the coalition government till the time he was replaced by Ishaq Dar. Miftah feels betrayed by his party for his early removal as finance minister because the PML-N wanted to accommodate Ishaq Dar.

Meanwhile, IMF Resident Representative in Pakistan Esther Perez Ruiz said that Pakistan-IMF talks on ninth review are moving in positive direction.

She said, “Discussions to date in the context of the 9th review have been productive, and have enabled a revision to the macroeconomic outlook post floods as well as an in-depth evaluation of fiscal, monetary, exchange rate, and energy policies adopted since the completion of the combined seventh and eight reviews.:

The IMF looks forward to continue the dialogue over policies that adequately address the humanitarian and rehabilitation needs from the floods, while also preserving fiscal and external sustainability given available financing, she added.

She has issued this statement at a time when rumours are surfacing in Pakistan about delay in the ninth review and disbursement of next IMF tranche.

He said, “Pakistan should not default, nonetheless, I believe that the path we are on might take us towards default as the economic challenges have deepened. We should take steps to avoid the danger of default.”

Miftah Ismail stated in his a private TV channel’s programme on Tuesday night.

He also said that the threat of default will loom over Pakistan until the government accomplishes IMF ninth review tasks.

Miftah rejected PTI Chairman Imran Khan’s demand of early elections and he held the PTI government responsible for throwing the country on the brink of default.

He said, “Imran Khan is responsible for pushing Pakistan towards default; he violated the IMF programme and he (Khan) wanted to sabotage the IMF deal when the coalition government revived it under Prime Minister Shehbaz Sharif’s leadership.”

Javed Mahmood
Written By

I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.

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