Important development reported between Pakistan and IMF

Important development reported between Pakistan and IMF

ISLAMABAD – International Monetary Fund is looking forward to continuing the dialogue on the ninth review on Extended Arrangement after productive talks with the Sharif-led government.

IMF Resident Representative in Pakistan Esther Pérez Ruiz said discussions have enabled a revision to the macroeconomic outlook after the floods as well as an in-depth evaluation of fiscal, monetary, exchange rate, and energy policies adopted since the completion of the combined seventh and eighth reviews.

The global lender also mentioned continuing dialogue over humanitarian and rehabilitation policies post-2022 floods, while preserving fiscal and external sustainability given available financing, per reports.

IMF’s review for the release of the next funds has been pending for the last three months, forcing the cash-strapped country to approach friendly nations and other lenders.

Pakistan on the other hand is still committed to completing the IMF programme while meeting external debt repayments on time, Finance Minister Dar said last week, who revealed that all targets for the ninth review had been completed.