IMF Mission arrives in Islamabad for discussions on the ninth review

An IMF mission has arrived in Islamabad to talk about the ninth review of the $7 billion Extended Fund Facility, which is currently frozen (EFF)

Details indicate that a mission from the International Monetary Fund (IMF) has arrived in Islamabad, and that discussions on the ninth review of the bailout programme will begin today (Tuesday).

According to sources cited by ARY News, Pakistan and the Fund will undertake technical discussions over the course of the first four days when economic data from various departments would be examined.

The IMF provided Pakistan with a $6 billion bailout in 2019, which was increased by an additional $1 billion in 2018. However, the lender halted payouts in November because Pakistan had not made further progress on fiscal reduction and economic reforms.

However, it is important to note that Shehbaz Sharif, the prime minister, has stated that the coalition administration wants to finish the ninth review as soon as possible and that Pakistan is eager to do so.

He said so today when he introduced the “Youth Business and Agricultural Loan Scheme.”

I have informed the IMF CEO that Pakistan is willing to finish the ongoing evaluation and take into account the issues identified by it, he continued.

Esther Perez Ruiz, the IMF’s resident representative for Pakistan, stated earlier in a statement: “At the authorities’ request, an in-person Fund mission is set to visit Islamabad from January 31 to February 9 to continue the discussions under the ninth EFF review.

The mission, according to her, would concentrate on measures to reestablish domestic and international sustainability, including strengthening the fiscal position with long-lasting, high-quality measures while providing aid to the weak and flood victims; restoring the viability of the power sector and reversing the ongoing accumulation of circular debt; and restoring the proper operation of the foreign exchange market, allowing the exchange rate to resolve the forex shortage.

Written by Aly Bukshi

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