It is to be noted that the IMF and Pakistan have made significant progress in the virtual talks. The IMF has expressed its satisfaction with the steps taken by Pakistan and has approved the staff-level agreement to be concluded by the end of the week at the latest. The Finance Ministry sources have confirmed that there has been progress in the virtual talks between Pakistan and the IMF following Pakistan’s fulfilment of the conditions for the IMF’s advance measures and the IMF’s expression of satisfaction over these advance measures. This week, a staff-level agreement will likely be reached.
Debt Surcharge Negotiations with IMF at an Impasse
In addition to meeting the last condition of the IMF, the improvement of foreign exchange reserves has also led to the fulfilment of the last precondition, according to the sources. Due to the rollover of Chinese loans to Pakistan, the foreign exchange reserves have improved, as well as the packages announced for Pakistan by other friendly countries. The implementation will likely take place soon.
IMF Programme will be Completed by the Government: Dar
When the staff-level agreement with the IMF is reached, the issue for approval of the Ninth Economic Review, as well as the next instalment of one billion ten million dollars for Pakistan, will be discussed at the meeting of the IMF Executive Board. Following the approval of the Board, Pakistan will also be able to continue its IMF program with the release of the next episode.
