Dar faces uphill task to unlock $1b WB loans

Pakistan on Saturday assured the World Bank to timely implement prior actions for over $1 billion budget support loans amid the country's inability to create consensus among all the domestic stakeholders and narrowing political space to take difficult steps. The assurance has been given by Finance Minister Ishaq Dar two days before his departure to Washington, where he is expected to participate in a high-profile conference on the sidelines of the World Bank (WB) and International Monetary Fund (IMF) annual meetings. The conference will be co-chaired by the World Bank Group and an important Group-7 member, the UK, aimed at bagging the world’s financial support for Pakistan’s flood-affected population. The conference has been arranged ahead of the international donors conference that is expected to take place in Paris and being hosted by the French president to garner assistance for Pakistan. Dar met with Najy Benhassine, the country director of the WB, and discussed his forthcoming meetings in Washington.