IMF high level mission in Pakistan for crucial evaluation of $6 billion program
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ISLAMABAD - The International Monetary Fund's (IMF's) Review Mission is expected to reach Islamabad today (Monday).
IMF to evaluate implementation of economic targets agreed by Pakistan for $ 6 billion facility. On July 3, 2019, the IMF Executive Board had approved the $ 6 billion for Pakistan for 39 months.
The IMF Review Mission, to be headed by Ernesto Ramirez Rigo, is expectedly arriving for its first quarterly review (July-September) of the economic targets Pakistan is required to achieve as part of the $ 6 billion Extended Fund Facility (EFF).
According to reports, Pakistan is expecting completion of first review and release of second tranche worth around $ 451 million or 328 million SDRs (Special Drawing Rights) by December this year with subject to approval of the Fund's Executive Board. Following the IMF Review Mission's expected arrival today, the deliberations between the two sides are likely to continue from October 28 to November 11, 2019.
