Pakistan 'very close' to ink IMF agreement
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Pakistan ‘very close’ to ink IMF agreement
ISLAMABAD (Dunya News) – Pakistan has high hopes for reaching out the staff-level agreement with the International Monetary Fund (IMF) in a day or two.
Sources in the Finance Ministry said that Pakistan had implemented all the conditions for the agreement with the global lender to revive the bailout package.
The new economic assessment with IMF, which is worth $1 billion and $20 million, would be finished after the implementation of the new conditions.
“IMF is anticipated to make a formal declaration within the next day or two,” said the sources.
IMF’s ‘Extended Fund Facility’ programme for Pakistan expires on June 30. Pakistan is likely to receive this sum in installments.
Prime Minister Shehbaz Sharif on Wednesday hoped the International Monetary Fund (IMF) would announce a decision pertaining to the release of bailout package within 48 hours.
In a conversation with the Pakistan Muslim League-Nawaz (PML-N) bigwigs, the premier said, "All of the conditions made by the international lender have been met. We are on the way to finish the 9th review".
"We made the solution compatible with IMF policies. Through several discussions, the country has removed all of the internal lender's reservations", PM Shehbaz said.
Earlier, IMF Mission Chief to Pakistan Nathan Porter had said that talks were underway to reach an agreement with Pakistan on financial support from the global lender.
In a statement issued on Tuesday, Porter said Pakistani authorities had taken decisive steps to bring policies more in line with the economic reform programme.
Porter’s statement comes as Pakistan continues to negotiate with the IMF for the completion of a ninth review of the $6.5 billion Extended Fund Facility agreed in 2019 and the release of a $1.2bn tranche.
