Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) recently said Pakistan had been asked by the IMF "to take steps to be able to function as a country" and not get into a dangerous place where it needs debt restructuring, the Greek City Times reported.
Pakistan's government has taken the decision to generate PKR 335 billion more in revenue over the next fiscal year to finance the power sector's debt and liabilities.
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Till Friday, the stocks declined over concerns that global growth will continue to slow in 2023 due to monetary policy tightening by various central banks to control inflation.
Sitharaman co-chaired debt roundtable jointly with IMF MD Kristalina Georgieva and World Bank chief David Malpass. The G20 delegations also had a meeting with tech innovators at IISc.
Kristalina Georgieva urged for a strong push for regulation and added, "if regulation fails, if you're slow to do it, then we should not take off the table or banning those assets, because they may create financial stability risk..."
According to Dawn, the belt-tightening comes as the government is trying to resume a stalled loan programme of the International Monetary Fund (IMF) to secure funds worth USD 1 billion. The premier said an agreement with the Fund was in its final stages.
Addressing the gathering, the Prime Minister underlined that this is the first Minister-level dialogue under India's G20 Presidency and conveyed his best wishes for a productive meeting.