ISLAMABAD: International Monetary Fund (IMF) Mission Chief for Pakistan Nathan Porter said that the IMF team will visit Pakistan in May to complete the seventh review and discuss issues concerning the loan programme.
He said, “We had very productive meetings with the Finance Minister of Pakistan Miftah Ismail over Pakistan’s economic developments and policies under the Extended Fund Facility (EFF) program. We agreed that prompt action is needed to reverse the unfunded subsidies which have slowed discussions for the 7th review.”
In a statement issued today, IMF chief for Pakistan Nathan Porter said that based on the constructive discussions with the authorities in Washington, the IMF expects to field a mission to Pakistan in May to resume discussions over policies for completing the 7th EFF review.
The authorities have also requested the IMF to extend the EFF arrangement through June 2023 as a signal of their commitment to address existing challenges and achieve the program objectives.”
Finance Ministry officials also claimed that the IMF has agreed to enhance loan for Pakistan from $6 billion to $8 billion.
Finance Minister Miftah Ismail and Minister of State for Finance Dr Ayisha Ghous Pasha and Governor State Bank of Pakistan Dr Reza Baqir are holding talks with IMF officials in Washington to get loan and to fulfill the requirements of the fund.
