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Pakistan and IMF are Resuming Talks under 6 Billion Extended Fund Facility Program

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IMF and Pakistan

Pakistan and the International Monetary Fund (IMF) have begun agreeing to resume talks under the 6.6 billion Extended Fund Facility (EFF) program. Sources also said that the IMF Resident Representative for Pakistan met with Finance Minister-designate Muftah Ismail last Friday and agreed to resume talks under the 6 6 billion EFF program.

Sources confirmed that the IMF representative informed Muftah Ismail that he would support Pakistani authorities on economic policies and reforms to ensure macroeconomic stability in Pakistan in the current challenging global economic environment. Always looking forward to continuing.

The sources further said that the Pakistani delegation has also reached Washington DC to attend the Spring Meetings starting from Monday. Sources added that Finance Minister-designate Muftah Ismail will also attend a virtual meeting (online) this week. Muftah has already said that due to deteriorating balance of payments problems, the new government intends to start with the IMF program.

 

Pakistan has to pay 2.5 2.5 billion in the last quarter of the current financial year. SBP’s reserves for the week ended April 8, 2022 were recorded at, 10,849.6 million.

It is pertinent to mention here that Pakistan and the IMF had started negotiations on March 4, 2022 under the Seventh Review. Could not complete within two weeks. On February 28, 2022 by the PTI government. Pakistan will get one billion dollar on the completing seventh review.

In view of this situation, various issues are being considered to provide relief to the people of Pakistan.

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