IMF Delegation Lands in Pakistan for Pivotal Economic Assessment Discussions
A delegation from the International Monetary Fund (IMF) has touched down in Pakistan for a crucial review of the country’s $3 billion Stand-By Arrangement (SBA), as reported by ARY News. Sources indicate that discussions will commence following an introductory meeting between the IMF delegation and Finance Minister Muhammad Aurangzeb, accompanied by the Finance Secretary and Governor of the State Bank of Pakistan.
Notably, Pakistan has reportedly met the targets set by the IMF for the second review, alleviating the need for a new mini-budget under the existing IMF program. The forthcoming talks will primarily center on securing the final tranche of $1.1 billion under the SBA initiative.
Finance Minister Muhammad Aurangzeb recently expressed Pakistan’s ambition to establish its most extensive and enduring agreement with the IMF to date, emphasizing the government’s commitment to revitalizing the nation’s economy. Aurangzeb highlighted Prime Minister Shehbaz Sharif’s steadfast dedication to economic recovery, noting the premier’s clear vision for uplifting Pakistan’s financial landscape.
This development follows the IMF’s readiness, announced on March 8, to dispatch a mission to Islamabad for the second economic review in light of the formation of Prime Minister Shehbaz Sharif’s cabinet. While the focus remains on concluding the ongoing Stand-By Program, set to conclude in April 2024, the IMF’s commitment to promptly initiating the second review underscores the importance of Pakistan’s economic trajectory on the global stage.
