Pakistan Continues Talks with IMF for $7 Billion Loan Review
IMF Review Mission Engages in Two-Phase Talks with Key Pakistani Institutions
ISLAMABAD: Pakistan’s ongoing discussions with the International Monetary Fund (IMF) for the review of its $7 billion loan programme entered their second consecutive day on Tuesday. The IMF delegation, currently visiting Pakistan, met with Finance Minister Muhammad Aurangzeb in Islamabad, where they were briefed on the country’s economic situation and reform agenda. The meeting was also attended by the finance secretary and the chairman of the Federal Board of Revenue (FBR).
Finance Minister Aurangzeb assured the IMF that Pakistan was “well positioned” for the first review of the bailout programme. “We will have two rounds of talks, first technical and then policy level,” he said, expressing confidence in the review process.
The talks, which officially kicked off on Monday, are focusing on economic measures and climate-related initiatives. During the discussions, Pakistan’s delegation presented a Green Initiative Report to the IMF, outlining key climate change projects spearheaded by the Ministry of Planning.
Additionally, discussions covered the Public Sector Development Programme (PSDP) spending and potential budgetary adjustments for the current fiscal year. Officials also provided an overview of Pakistan’s economic performance and expenditure strategies.
A nine-member IMF review mission, led by Nathan Porter, is conducting the talks, which will unfold in two phases. The first phase will involve technical discussions, followed by policy-level negotiations. The mission will engage with key institutions, including the Ministry of Finance, FBR, the Power Division, the State Bank of Pakistan, Ministry of Energy, Ministry of Planning, OGRA, and NEPRA.
Read more: IMF Demands Pakistan to Curb Real Estate Tax Evasion
Pakistan is expected to present a compliance report on the conditions of the $7 billion bailout programme, covering the first half of the fiscal year. The IMF team will also evaluate the country’s economic performance and make recommendations for the next fiscal year’s budget. The review is set to conclude on March 15.
