Pak FM Dar urges IMF to modify its policy support amid catastrophic floods
Oct 16, 2022
Washington [US], October 17 : Pakistan Finance Minister Ishaq Dar on Sunday urged the International Monetary Fund (IMF) and multilateral donors to modify its policy support amid catastrophic floods.
Speaking during a meeting of MENAP (Middle East, North Africa, Afghanistan, and Pakistan), the minister urged IMF to modify its response to Pakistan's situation triggered due to flood calamities, reported Geo News.
He urged greater policy support from IMF, assuring the organization of Pakistan's commitment to complete the programme. Dar held several important meetings during his visit to Washington.
The meeting in Washington DC was attended by finance ministers of different countries and central bank governors, while the IMF's Managing Director Kristalina Georgieva was also present.
Shedding light on the humanitarian crisis and the disaster's scale, Dar pleaded for more policy support for Pakistan, reported Geo News.
Dar welcomed new IMF instruments Resilience and Sustainability Trust (RST) and Food Shock Window under Rapid Financing Instrument (RFI) to support countries.
He also thanked the IMF managing director for her sentiments and commitment to completing the Fund programme despite challenges.
The minister also held a meeting with Asian Development Bank (ADB) President Masatsugu Asakawa and thanked him for the support provided over the years as a major development partner of Pakistan and also for the recent post-flood commitments, reported Geo News.
The ADB president assured the finance minister of approval of the BRACE programme amounting to USD 1.5 billion and of continued support to Pakistan.
Notably, Dar was "welcomed" by angry protestors with chants of "liar" and "chor" (thief) at the Washington airport in the US as he arrived in the country to attend meetings of the World Bank and the International Monetary Fund (IMF), reported Daily Times.
When Dar arrived at the US airport, an angry protestor was heard shouting "You are a liar. You are a liar" and "Chor-Chor." Dar and his aides, visibly angry at the slew of profanity targeted at the minister were seen retorting, as seen in a video widely shared on social media.
"You are a liar," Dar hit back at the person who was directing abuses at him. "Moth**r f**ker...I'll f**k you right here, don't try and be a smart a**," a member of Dar's entourage was heard saying. All of this was caught on camera and the video soon went viral.
