Ishaq Dar rejects rumors about Pakistan's default

Islamabad: Finance Minister Ishaq Dar on Thursday dismissed the malicious rumours about country's possible default.

In a series of tweets on Thursday, he said these rumours were not only completely false but also belie the facts.

Anti-Pakistan elements are spreading malicious rumors that Pakistan may default. This is not only completely false but also belie the facts. SBP forex reserves have been increasing and are almost
US $ 1 billion higher than four weeks ago despite making all external… 1/2

— Ishaq Dar (@MIshaqDar50) March 2, 2023

The Finance Minister said SBP forex reserves had been increasing and are almost one billion dollars higher than four weeks ago despite making all external due payments on time.

due payments on time. Foreign commercial banks have started extending facilities to Pakistan. Our negotiations with IMF are about to conclude and we expect to sign Staff Level Agreement with IMF by next week. All economic indicators are slowly moving in the right direction. 2/2

— Ishaq Dar (@MIshaqDar50) March 2, 2023

He said foreign commercial banks have started extending facilities to Pakistan.

Ishaq Dar said our negotiations with IMF are about to conclude and we expect to sign Staff Level Agreement with IMF by next week.

The Minister said all economic indicators are slowly moving in the right direction.