LAHORE – Talks between the crisis-hit Pakistan and International MonetaryFund will resume virtually on Monday as the two sides eye finalizing a dealto unlock funding critical to keep Pakistan afloat amid economic meltdown.
Islamabad and US-based lender could not reach a deal earlier in February asthe visiting IMF delegation left the South Asian nation after 10 days ofnegotiations, but talks continue.
In upcoming talks, the Pakistani government and IMF will review the draftMemorandum of Economic and Fiscal Policies (MEFP) known as the staff-levelagreement.
The government eyes salvaging much-needed funds as financial authoritieshave been tasked to collect an additional Rs170bn in revenue to bridge thewidening gap.
Earlier this month, the country’s finance chief Ishaq Dar said pinned hopeto seal Staff Level Agreement with the fund in the coming days.
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Under IMF’s stern requisites to guarantee financial help from bilaterallenders, Dar lately announced that the country’s central bank received $500million from the Industrial and Commercial Bank of China (ICBC).
The ongoing precarious situation in the country of over 220 million isexpected to end in the coming months as the country will be receiving$1.3bn from Beijing and another $1.1bn tranche from the IMF.
