ISLAMABAD: Federal Minister for Finance and Revenue, Miftah Ismail said on Monday that Extended Fund Facility (EFF) program with the International Monetary Fund (MF) was on track.
The minister said that there had been some tweets and stories about the IMF program being postponed or delayed due to some anti-corruption laws. He said, there was no truth in this and the program was on track.
“I have been reading with some amusement all the tweets and stories about IMF program being postponed or delayed due to some anti-corruption law. There is no truth to it. The IMF program is on track,” he tweeted.
It is pertinent to mention here that Pakistan received the Memorandum of Economic and Financial Policies (MEFP) in the last week of June from the International Monetary Fund (IMF) for combined 7th and 8th reviews under Extended Fund Facility (EFF).
In May 2019, Pakistan and the IMF reached a staff-level agreement on economic policies for a three-year Extended Fund Facility (EFF).
Under the agreement, Pakistan was to receive about $6 billion for a period of 39 months, and so far it has received almost half of it.
