Pakistan and the International Monetary Fund have begun online talks on theninth review of a $7 billion bailout package.
This was stated by IMF Islamabad representative Esther Pérez Ruiz.
“As part of the 9th review under the EFF, remote discussions continuebetween IMF staff and the Pakistani authorities over policies tore-prioritize and better target support toward humanitarian andrehabilitation needs,” Ruiz told Reuters in a statement.
The finance ministry also confirmed the ongoing talks between Pakistan andthe global lender.
The Reuters quoting the ministry said: “The IMF understands that the floodshave changed the macroeconomic assumptions on which the programme wasdesigned. Detailed analysis is being conducted by their team using the dataprovided.”
Read Top Stories
The government has shared fiscal data, including for floods and relatedexpenditures, with the IMF, and a team from the agency is expected to visitIslamabad soon, the ministry added.
Pakistan has been reeling from floods this year that killed more than 1,700people, destroyed farmland and infrastructure and incurred a loss more than$30 billion, as per the estimate of the World Bank. The financial loss hasexacerbated an economic crisis marked by decades-high inflation anddwindling foreign exchange reserves.
