According to Miftah Ismail, the finance minister, Pakistan won’t go into default because a rise in foreign cash inflow is anticipated in the upcoming quarter.
The minister stated that he, the governor of the State Bank, and Prime Minister Shehbaz Sharif were all confident that Pakistan will not default because “all the balls that [they] have in the air” are anticipated to land in place and a rise in the inflow of foreign currency is anticipated in the upcoming quarter.
The remarks were made during a conversation with Mosharraf Zaidi, CEO of advisory services firm Tabadlab.
He underlined the significance of giving markets a “positive signal.”
The minister shared JP Morgan’s special research study on Pakistan on his official Twitter account today, echoing the same sentiments and stating that “Pakistan will not default on its payments.”
Miftah said: “With austerity and reform measures taken in the budget and since the budget, the IMF agreement and progress with other multilateral institutions, our bonds are a safe and smart investment.”
He brought up the fact that Pakistan’s imports cost $81 billion last year but only $31 billion this year during his conversation with Zaidi.
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