Pakistan has selected Shamshad Akhtar as the finance minister for the interim government to ensure the South Asian nation doesn’t falter on its pledges to the International Monetary Fund for its crucial bailout program, according to two people familiar with the matter.
(Bloomberg) — Pakistan has selected Shamshad Akhtar as the finance minister for the interim government to ensure the South Asian nation doesn’t falter on its pledges to the International Monetary Fund for its crucial bailout program, according to two people familiar with the matter.
Caretaker Prime Minister Anwaar-ul-Haq Kakar has made the offer that has been accepted, said the people familiar with the matter. The prime minister’s office didn’t immediately respond to a request for a comment. The selection that was initially reported by Dunya News is still not final since oath taking remains.
Former premier Shehbaz Sharif handed over power to Kakar this week at the end of parliament’s five-year term and weeks after securing a $3 billion loan program with the IMF to avert a default. The new premier, whose primary job will be to oversee national elections due by November, on Tuesday pledged to continue economic policies during his interim administration.
IMF Warns Pakistan May Have to Restructure Debt If Goals Not Met
The elections are expected to be delayed as political parties want these to be conducted on the latest population census, a process that will take another three months to complete.
Akhtar, who was the central bank governor from 2006 to 2009, has served as an interim finance minister for a short term in 2018. She is currently the chairperson of Pakistan Stock Exchange Ltd. and has worked at the United Nations, the World Bank and the Asian Development Bank.
–With assistance from Debjit Chakraborty.
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