ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have entered the policy-level phase of discussions on the country’s ongoing $7 billion loan programme, following the conclusion of technical-level talks.
The IMF delegation, led by Nathan Porter, met with Federal Finance Minister Muhammad Aurangzeb and his economic team — including the Finance Secretary and Chairman of the Federal Board of Revenue (FBR) — to review Pakistan’s economic performance from July 2023 to February 2024.
The government reaffirmed its commitment to strictly adhering to the loan programme’s conditions.
Policy-Level Discussions in Progress
The talks, expected to last for two weeks, will cover critical areas such as fiscal indicators, revenue collection, tax reforms, energy sector reforms, and the overall macroeconomic outlook.
The IMF review mission will submit its recommendations to the IMF Executive Board, which is likely to decide on the release of the next $1.1 billion tranche by late March or early April.
Focus on Economic Performance and Reforms
According to sources, Pakistan’s economic team has briefed the IMF on improvements in revenue collection, macroeconomic stability, and privatization efforts. The delegation was informed that the country’s exchange rate and foreign reserves have remained stable, while the fiscal deficit and primary balance have shown signs of improvement.
Officials from the Economic Wing, Budget Wing, External Finance Wing, and Regulations Wing participated in the talks. FBR Chairman Rashid Mahmood Langrial presented an overview of revenue collection trends from July 2023 to January 2024.
