ISLAMABAD: The Pakistan government’s pursuit of a second tranche of a $710 million loan under the current $3 billion Stand-By Arrangement received a commendation from the International Monetary Fund (IMF) review mission for its first-quarter efforts.
In a statement, the finance ministry announced that Mr. Nathan Porter, IMF Mission Chief, acknowledged the government’s dedication to meeting first-quarter targets and praised the government’s proactive measures in critical areas.
Caretaker Federal Finance Minister Shamshad Akhtar engaged in discussions with the IMF review mission led by IMF Chief Nathan Porter at the Finance Division. In attendance were IMF Resident Representative Esther Perez Ruiz, SBP Governor Jamil Ahmed, the FBR Chairman, SECP Chairman, the Finance Secretary, members of the IMF delegation, and senior officials from the Finance Division.
Porter emphasized the importance of sustaining efforts to ensure the country’s economic stability remains on track. Akhtar provided the mission with insights into the government’s fiscal measures designed to enhance the economic situation. The discussions also encompassed comprehensive reforms and initiatives carried out by the FBR, along with the government’s strategies to tackle the circular debt issue.
The finance minister expressed her gratitude for the IMF’s ongoing support and assistance, reiterating the government’s commitment to working closely with the IMF to successfully complete the Stand-By Arrangement and attain the nation’s economic objectives.
Earlier, the IMF and the government teams held a first round of talks for the evaluation of the economic performance of Pakistan under the Stand-by Arrangement on Thursday morning.
Nathan Porter, IMF mission chief, is leading the team of the fund.
Finance Minister Dr. Shamshad Akhtar, secretary of finance, chairman of FBR, and other officials of the government’s economic team are holding discussions with the IMF.
On Thursday, the economic team and the IMF officials discussed the initial process for measuring the economic performance of Pakistan under the SBA.
Both sides will hold technical and policy level talks for 10 days in Pakistan, followed by a decisive round of virtual parleys between IMF top officials in Washington and the government’s team in Islamabad.
