IMF to begin talks under $6 billion EFF from February 3

ISLAMABAD: Pakistan and the International Monetary Fund (IMF) expected to start negotiations on the second review under the US$ 6 billion Extended Fund Facility (EFF) beginning on February 3.

The meeting was verified on Thursday by IMF representative Teresa Daban Sanchez. She said, “The IMF and Pakistani committees are already engaged in preparatory work on the second review of the 2018 Article IV consultations.”

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Every possible measure is being taken for an IMF mission to visit Pakistan, the team is expected to fly in the next few days and start operating next week, “hopefully starting on Monday, February 3.” she added.

The mission will examine the performance of Pakistan’s economic objectives for US$ 6 billion facilities. IMF officials will also meet Prime ministers Advisor on finance Dr Abdul Hafeez Sheik and  Federal Board of Revenue (FBR) Chairman Shabbar Zaidi. The discussions will last 11 days.

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Earlier on July 3, 2019, the IMF’s executive board approved the US$ 6 billion for Pakistan for 39 months. The government has so far earned 1,44 billion US dollars from the IMF under the EFF.