Finance Ministry responds over media reports linked with IMF deal
ISLAMABAD - Finance Ministry responds over media reports linked with International Monetary Fund deal.
The finance ministry on Monday dispelled reports that "tough prior actions" were needed before Pakistan could secure the third tranche of Rs452 million from the International Monetary Fund (IMF).
On Sunday, *The News link* had reported that the government will have to "take prior actions by placing a viable fiscal adjustment plan, hiking gas and power tariff and ensuring Chinese loans rollover in order to strike a staff-level agreement with the IMF".
In an official statement released on Monday, the finance ministry said: "It is completely normal for quarterly reviews to take a few more days than planned, which must never be viewed as something extraordinary."
"The second and third quarterly reviews will be presented before the IMF board separately as planned.
No decision has been taken as to any prior actions. China is Pakistan’s brother and there is no apprehension whatsoever on the roll-over/refinancing of Chinese loans," the statement added.
The ministry explained that the IMF team had "constructive and productive discussions" with Pakistani authorities and commended Pakistan on the progress made during the last few months regarding "advancing reforms and continuing with sound economic policies".