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ISLAMABAD: The delegation of the International Monetary Fund (IMF) is scheduled to visit Pakistan on 19th December to review the country’s progress under the Extended Fund Facility (EFF).
The board meeting will consider the staff level report and approval of the second tranche of about $450 million under the $6 billion Extended Fund Facility (EFF).
Earlier in November, IMF approved another three-year loan package for Pakistan of $6 billion.
Read more: Pakistan and IMF delegation to hold meeting today
Under the loan program, the government agreed to cut civil investment and freeze military spending while promising to substantially raise revenues to stem a yawning fiscal deficit, and pledging to collect 5.5 trillion rupees in taxes.
The next IMF economic survey is expected to take place in early 2020.
Pakistan seeks the largest loan package from the IMF. Pakistan is seeking a loan package of up to USD 8 billion from the IMF to bail itself out from a severe balance-of-payments crisis that threatens to cripple the country’s economy.
Also read: IMF arrives in Pakistan to revive economic progress