April 22, 2022 (MLN): Federal Finance and Revenue Secretary Miftah Ismail met with executive directors of the International Monetary Fund (IMF) on Friday.
Minister of Foreign Affairs Dr. Ayesha Ghous Pasha, Finance Secretary and Governor of the State Bank of Pakistan (SBP), also present at the meeting, said a press release issued today.
The talks focused on proposals for the next budget.
The finance minister asked the IMF to resume the $6 billion program for Pakistan, which faced uncertainty after the PTI government reversed some of the pledges it made in October-November 2021.
In May 2019, Pakistan and the IMF signed a staff-level agreement on economic policy for the three-year EFF programme. Under the agreement, Pakistan would receive approximately $6 billion over 39 months.
Note that the last $1 billion tranche was approved on Feb. 2, 2022. So far, the fund has paid out nearly $3 billion to Pakistan.
Pakistan is waiting to resume talks on the seventh loan facility review as the program stalled following the premature end of Imran Khan’s government earlier this month.
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Posted on: 2022-04-22T22:53:01+05:00
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