Finance Minister Ishaq Dar has once again made it clear that he can prove that Pakistan will not default and despite serious problems the country “will not approach Paris Club – a group of wealthy creditor nations.
The finance czar’s statement came during his address at a ceremony at the Pakistan Stock Exchange on Wednesday.
Dar said that he has always believed that Pakistan has a beautiful future and has a resilient economy. He, however, said that unfortunately the country has been put in a situation it doesn’t deserve.
He said it has been three months since he took charge as the finance minister and every day it is said that the country will default. “How will there be a default? There is no chance that Pakistan will default,” Dar reiterated. He admitted that the country is in a difficult spot but said that it will “survive” as things are being managed.
He said that he is not at fault for the fact that the country’s reserves are not $24 billion anymore as in 2016.
“That is not my fault. The fault is in the system and we must ensure Pakistan goes forward,” Dar said.
He said that once again a rhetoric has started that bonds will not be paid, which gave rise to speculations.
