PML N scrambles to IMF for economic support
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Finance adviser in-waiting Miftah Ismail said on Tuesday the new government would restart negotiations with the International Monetary Fund (IMF) for balance of payments support.
“Stabilisation of declining foreign exchange reserves and increasing them is the most important thing,” he said. “Taking the IMF programme forward with mutual understanding is important.”
In reply to a question, he said that “we will take the existing programme forward and complete its three reviews”, which involve about $3 billion in outstanding disbursement, by September.
He was speaking at a hurriedly called news conference with former caretaker energy minister Senator Musaddiq Malik and former Sindh governor Muhammad Zubair.
