The International Monetary Fund (IMF) has dismissed claims by the Economic Coordination Committee (ECC) of Pakistan that the IMF has blocked funds to the country.
The ECC had previously accused the IMF of blocking a $450 million loan to Pakistan, which it said was needed to bridge the country’s budget deficit.
However, the IMF has denied these claims, stating that it has not blocked any funds to Pakistan and that the loan is still under consideration.
In a statement, the IMF said: “We are aware of the statement by the ECC and we can confirm that the IMF has not blocked any funds to Pakistan. We continue to work closely with the Pakistani authorities on their economic reform program.”
The IMF’s response comes amid growing tensions between Pakistan and the international lender over the country’s economic reform program.
Pakistan has been struggling to revive its economy, which has been hit hard by the COVID-19 pandemic, as well as longstanding structural issues such as low productivity and high inflation.
The IMF has been working with Pakistan to implement a series of economic reforms aimed at stabilizing the country’s economy and putting it on a sustainable path.
However, progress has been slow, and Pakistan has repeatedly missed targets set by the IMF.
The ECC’s claims that the IMF has blocked funds to Pakistan are likely to further strain the country’s relationship with the lender, which is seen as critical to Pakistan’s economic recovery.
Pakistan has already secured a number of loans from the IMF, as well as other international lenders, to help it weather the economic impact of the pandemic.
However, with the country’s economic situation still fragile, and tensions with the IMF running high, the road ahead for Pakistan’s economy remains uncertain.
In the meantime, the government has announced a series of measures aimed at boosting economic growth, including a new stimulus package and tax reforms.
It remains to be seen whether these measures will be enough to put Pakistan’s economy back on track, or whether the country will need further assistance from the IMF and other lenders.