IMF yet to release $1.1b climate-damage payment due to be disbursed to Pakistan in November: Reuters + AFP


Here is the relevant part of the story headed: Pakistan seeks help with $16 billion flood rebuilding at UN conference

Pakistan’s ambassador to the UN in Geneva, Khalil Hashmi, said Islamabad was willing to pay for about half of the bill [the $16 billion] but hoped for support from donors for the rest.

“We will be mobilising international support through various means,” he said. “We look forward to working with our partners.”

[Big UN meeting is taking place on Monday in a bid to sort out the finance, Reuters said.]

An International Monetary Fund(IMF) delegation will meet Pakistan’s finance minister on the sidelines of the conference, a spokesperson of the lender said on Sunday, as Pakistan struggles to restart its bailout programme.

The IMF is yet to approve the release of $1.1 billion originally due to be disbursed in November last year, leaving Pakistan with only enough foreign exchange reserves to cover one month’s imports.

AFP version:

akistan will ask Monday for billions in international support towards its recovery from the aftermath of last year’s devastating floods and to help it better resist climate change.

To meet the huge needs, Pakistan and the United Nations will co-host an international conference in Geneva, urging countries, organisations and businesses to step up with financial and other support towards a long-term recovery and resilience plan.

Pakistan Prime Minister Shehbaz Sharif and UN Secretary-General Antonio Guterres will kick off the one-day event, which will also feature speeches by a number of heads of state and government.

French President Emmanuel Macron, his Turkish counterpart Recep Tayyip Erdogan and European Commission chief Ursula von der Leyen will also address the conference via video link.

According to Pakistan’s so-called Resilient Recovery, Rehabilitation and Reconstruction Framework, which it will officially present during Monday’s conference, $16.3 billion will be needed in all.

Earlier: CarrZee story published on Nov. 18 a few hours before the “loss and damage” deal [if it can be called that – it’s somewhat vague] was struck at Sharm el Sheikh, Egypt, in November.

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