ISLAMABAD: The government of Pakistan has sent the International Monetary Fund (IMF) some details about the fiscal year 2023–2024 budget amid suspension rumors of IMF’s Extended Fund Facility (EFF) program, it emerged on Tuesday.
“IMF staff looks forward to furthering the discussions to identify spending and revenue measures that can strengthen debt sustainability prospects while increasing social spending,” Esther Perez Ruiz, Resident Representative of IMF in Pakistan, was quoted as saying in Business Recorder.
She stated: “Some details of the fiscal year 2024 budget have been shared with IMF over the past week, and we have engaged in discussions around this information and the government’s budget plans.
“The staff of the IMF looks forward to advancing the negotiations to find spending and tax reforms that can improve the prospects for debt sustainability while increasing social spending to lessen the impact of persistent inflationary pressures on the most vulnerable,” she said.
“IMF staff continues the engagement with the Pakistani authorities to pave the way for a Board meeting before the current program expires at end-June, focused on the restoration of foreign exchange (FX) proper market functioning, the passage of a fiscal year 2024 budget consistent with program goals, and adequate financing,” the Fund added.
