COAS Bajwa contacts UAE, Saudi Arabia as Pakistan awaits IMF loan lifeline

12:52 PM | 5 Aug, 2022
COAS Bajwa contacts UAE, Saudi Arabia as Pakistan awaits IMF loan lifeline
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ISLAMABAD – Chief of Army Staff (COAS) General Qamar Javed Bajwa has contacted authorities in Saudi Arabia and United Arab Emirates (UAE) to discuss stalled IMF loan programme for Pakistan, it emerged on Friday.  

Reports said that Pakistan is likely to get “good news” from the global lander in result of recent contacts by Army Chief as the South Asian country is reeling through economic woes amid global price rise.

The development comes days after General Bajwa approached Washington to request help in getting an early loan dispersal from the IMF, as inflation and debt all stoke fears of economic collapse in cash strapped nation.

A report in Nikkei Asia quoting sources suggests that a top Pakistani general held a rare telephonic conversation with US Deputy Secretary of State Wendy Sherman earlier this week as deteriorating foreign reserves overshadow economic recovery.

During his call with US Deputy Secretary of State, COAS Bajwa urged the White House and the US Treasury Department for the quick supply of $1.2 billion to Pakistan.

Following the high-level contacts, Pakistan started receiving positive indications about revival of the loan programme as earlier this week, IMF's Resident Representative for Pakistan Esther Perez Ruiz confirmed that Pakistan had finally met the last prior action required for the release of the loan. 

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