IMF Review Mission Arrives in Pakistan, Talks to Continue Until March 18
Pakistan Anticipates $1.1 Billion IMF Tranche Amid Successful Reviews.
Islamabad: The International Monetary Fund (IMF) review mission has landed in Pakistan to conduct discussions, with negotiations set to extend until March 18.
The IMF mission has initiated discussions with the Pakistani economic team today, under the structured arrangement that will span four days. The IMF delegation is led by Mission Chief Nathan Porter, while Finance Minister Mohammad Haneef Aurangzeb heads the Pakistani economic team.
According to sources, the meeting will also include the Governor of the State Bank and the Secretary of Finance. It has been stated that no additional conditions will be imposed for receiving the final installment of the current loan program, and there will be no new monetary budget under the existing loan program.
Sources indicate that as a result of Pakistani initiatives, it is anticipated that the IMF program under the Stand-By Arrangement will see the disbursement of the third tranche of $1.1 billion. Treasury officials have claimed that Pakistan has successfully achieved the objectives of the previous reviews.
It’s noteworthy that yesterday, in a statement, the Finance Minister had expressed Pakistan’s intention to pursue a larger program with the IMF beyond their quota. They aim to secure a larger and longer-term program with the IMF.
Pakistan Stock Exchange Starts Positively with 413 Points Gain in 100 Index
The Pakistan Stock Exchange (PSX) witnessed a positive start as the 100 Index surged by 413 points during trading.
During the trading session, the index was seen trading at 64,790 points, showcasing an upward trend. This comes after a negative trend observed in the PSX during the previous trading day, where the 100 Index witnessed a decline of 753 points.
At the close of the previous trading day, the 100 Index had settled at 64,048 points, marking a notable decrease.
Read more: IMF estimates Pakistan’s tax-to-GDP ratio stands at 2.9%
Throughout the trading day, the 100 Index remained within the band of 1,186 points, with the lowest level recorded at 63,856 points on the previous day.
The positive momentum at the Pakistan Stock Exchange reflects investor confidence and optimism in the market, signaling a potential turnaround from recent declines. Investors are closely monitoring market trends and economic indicators as they navigate through volatility and seek opportunities for growth.
