IMF review mission to visit Pakistan as scheduled

ISLAMABAD: An International Monetary Fund (IMF)’s delegation will reach Pakistan on Sunday to probe economical plans made under the extended loan programme.

The IMF mission would begin commence its visit from October 28 which would be headed by Ernesto Ramirez Rigo.

The delegation is arriving in Pakistan to review the economical performance of the government for the payment of the next tranche of $6 billion.

The delegation will hold meetings with the finance adviser and the chairman of the Federal Board of Revenue (FBR) besides holding talks over a fixed tax scheme for traders.

Also read: IMF, World Bank assure continued support to Pakistan’s economy

Earlier, it was speculated that IMF team may postpone their visit due to political disturbances after the Jamiat Ulema-e-Islam- Fazl (JUI-F’s) Azadi March. However, government officials have reportedly stated that the visit will be held as scheduled. 

The IMF’s review mission will stay in Islamabad for two weeks for holding technical and policy levels talks from October 28 to November 11, 2019. The team will prepare its report for presenting before the IMF’s Executive Board to release the second tranche.

Also read: IMF to arrive in Pakistan for 2-week visit on Oct 28

Earlier on 21st October, the IMF and the World Bank have assured continued support to Pakistan’s economy, while the global funds also praised the economic reforms of the country.

In July, the IMF had released $1 billion to Pakistan after its cabinet approved a $6 billion bailout package. It is a three-year loan programme.

Also read: Global economic outlook ‘precarious,’ warns IMF

The fund will evaluate Pakistan’s performance quarterly over 39 months, phasing release of the additional funding over time.

Earlier on Friday, the Financial Action Task Force (FATF) decided to continue placing Pakistan on its grey list for the next four months.

This has handed Pakistan a final lifeline after acknowledging recent improvements. The nation escaped from a blacklist which could have resulted in sanctions.

US dollar declines slightly against Pakistani rupee