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ISLAMABAD: The International Monetary Fund (IMF) said it was in discussions with Pakistani authorities aiming to ‘quickly’ reach an agreement for the revival of the financial assistance programme.
“The IMF team continues discussions with Pakistani authorities with the aim of quickly reaching an agreement on financial support from the IMF,” said the IMF mission chief to Pakistan Nathan Porter.
Porter acknowledged that Pakistan has lately taken ‘decisive measures,’ including the passage of a budget by the parliament that broadens the tax base, steps towards improving the functioning of the foreign exchange market and tightening monetary policy to reduce inflationary and balance of payment pressures, to meet the IMF conditions.
“Over the past few days, the Pakistani authorities have taken decisive measures to bring policies more in line with the economic reform program supported by the International Monetary Fund,” he said.
The government has been waiting for the disbursement of the next tranche of $1.1 billion as part of the Extended Fund Facility (EFF) programme which has been stalled since November last year.
A day earlier, Prime Minister Shehbaz Sharif held a telephonic conversation with Managing Director of IMF Kristalina Georgieva and discussed matters relating to the financial package.
During the talk, the prime minister hope that the consensus between Pakistan and the IMF on various points would lead to the resumption of the programme in a couple of days.
The IMF managing director acknowledged the efforts of the finance minister and his team for completing the programme. PM Shehbaz reiterated his resolve to meet the targets of improving the country’s economic situation with joints efforts.
The IMF chief praised PM Shehbaz’s leadership role in his efforts with respect to the IMF programme. She said the IMF wanted an improved economic situation in Pakistan.
