Finance Minister Ishaq Dar said on Wednesday his team managed the present economic crisis in a way that he believed it might surprise the International Monetary Fund (IMF).
Addressing a ceremony of the Federal Board of Revenue (FBR), he said Pakistan was rated macro-economically unstable before elections in 2013, adding that it was declared that it would default shortly. “Pakistan countered the situation back then and would come out of it now too, he added.
He went on to say that Pakistan had completed technical work on the IMF’sninth review adding that it was unfortunate that it was started three months later. “We have completed all prior conditions,” he added.
Mr Dar said the IMF’s calculations were based on certain current account deficit projections, adding that Pakistan would not default. “Pakistan only completed one IMF program and that too in 2013-16,” he added.
He urged the FBR community to suggest practical proposals to steer the economy out of quagmire, adding that everyone had to play their role. “I apologise for delay as it must have been signed months ago,” he added.
