In a crucial round of talks with the International Monetary Fund (IMF), Pakistan is seeking the next installment of $710 million from the $3 billion standby loan program. The economic review talks, involving key stakeholders such as the IMF, Federal Board of Revenue (FBR), Ministry of Finance, and the State Bank of Pakistan, will continue until November 15.
Led by Caretaker Finance Minister Shamshad Akhtar, the discussions will cover external financing, fiscal deficits, revenues, exchange rate policy, interest rates, government institution reforms, and the privatization program. The success of the economic assessment is pivotal for unlocking the next installment and securing financial stability.
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Pakistan has fulfilled conditions set by the IMF, sharing comprehensive economic data during the talks. Out of the $3 billion loan program, $1.2 billion has already been received, underscoring the significance of ongoing negotiations for the nation’s economic stability.
The financial community closely watches the outcomes of the meeting, recognizing the broader implications for Pakistan’s fiscal health and continued partnership with the IMF. The caretaker Finance Minister and her team have assured the visiting IMF delegation of full implementation of the loan program, emphasizing progress in tax collection, tariff adjustments, circular debt control, government institution reforms, and efforts to enhance foreign exchange reserves.
As the IMF delegation commends Pakistan’s actions and calls for strict implementation of targets, the government remains determined to pursue sustainable economic reforms. The technical-level talks, led by State Bank of Pakistan Governor Jameel Ahmed, mark a crucial step toward securing the IMF’s final approval.
