September 27, 2020

IMF Not Making Any Profit From Loans To Pakistan: Teresa Daban

The country representative of IMF to Pakistan Teresa Daban Sanchez has said that people in the country have negative misconceptions about the IMF. She added that IMF is not making any profit from the loans given to Pakistan and this shows the IMF’s mission to help the countries who need financial assistance.

She further added that debt servicing of previous loans is the biggest financial burden on Pakistan, using 25% of the total revenues generated by the company.

She commended Pakistan’s efforts in reducing the current account deficit. She added that Pakistan although, facing a financial crisis should spend more on the underprivileged.

Talking about the upcoming FATF meeting in October 2019, she said that Pakistan must fulfill all the requirements of the FATF to get the country’s name off the grey list.

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