IMF agrees on talks with Pakistan for ninth tranche of loan
ISLAMABAD (Dunya News) – The International Monetary Fund (IMF) has agreed on resuming talks with Pakistan regarding release of tranche under the ninth review of the Extended Fund Facility (EEF), sources told Dunya News on Tuesday.
Sources said the two sides are expected to hold virtual talk this week in which the finance ministry officials will take the IMF officials into confidence regarding economic targets.
They said the virtual encounter between the two sides would decide the schedule for IMF delegation s visit to Pakistan.
Earlier, the federal government had sent a letter to IMF requesting it to send its team to cash-strapped Pakistan next week to complete the ninth review for the release of next tranche of loan pending since September last.
The government, as per reports, has expressed willingness to implement on the four major conditions of the global lender for the revival of the loan programme as the foreign exchange reserves of the South Asian country continues to deplete, putting country’s essential imports at risk and triggering a new wave of inflation.
The four major demands made by the IMF to revive the progrmme, include increase in gas and electricity prices, market-based exchange rate and additional taxes to cover the fiscal deficit.
Secretary Finance Hamed Yaqoob Shaikh has formally written to the IMF mission chief to visit Pakistan next week in a last resort to restart the much-needed loan programme.