ISLAMABAD – The Finance Ministry Monday described as misleading andfactually incorrect a news item published in a section of the presssuggesting that tough prior actions [are] needed for InternationallyMonetary Fund’s (IMF) US $ 452 million third tranche.
In an official statement issued here, the Ministry stated that it wascompletely normal for quarterly reviews to take sometimes a few days morethan planned, which must never be viewed as something extraordinary.
The second and third quarterly reviews would be presented before theInternational Monetary Fund (IMF) board separately as planned, it saidadding that no decision has been taken for any prior actions.
The statement said China was Pakistan’s iron brother and there was noapprehension whatsoever on the rollover/refinancing of Chinese loans.
It added that the article in question was equally ill-conceived in tryingto portray that only a miracle could save the IMF program.
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“The IMF staff team had constructive and productive discussions with thePakistani authorities and commended them on the considerable progress madeduring the last few months in advancing reforms and continuing with soundeconomic policies,” it explained, adding, “all end-December performancecriteria were met, and structural benchmarkshave been completed.”
The Finance Division made it clear that the government’s reform programsupported by the IMF’s Extended Fund Facility (EFF) was on track.
