Pakistan and IMF Start Second Review for Release of Final $1.1 Billion Loan Tranche

73
check
Advertisement

Pakistan and the International Monetary Fund (IMF) Thursday kicked off the second and last review of Pakistan’s $3 billion stand-by arrangement (SBA).

An IMF mission called on Federal Minister of Finance Muhammad Aurangzeb in Islamabad. The IMF mission is in Pakistan to conduct the second review. A successful review will help Pakistan unlock the final loan tranche of $1.1 billion.

During the meeting, the finance minister expressed the government’s commitment to working with the IMF on the reform agenda for the economic growth and stability of Pakistan.

IMF mission head Nathan Porter congratulated the minister on his appointment. Discussions were held on the overall macroeconomic indicators, the government’s efforts on fiscal consolidation, structural reforms, energy sector viability, and SOE governance.

Pakistan is also expected to ask for a new longer-term bailout during the talks. The second review of the SBA is scheduled to continue till March 18.

In a statement a day earlier, the finance ministry said that Pakistan has met all Structural Benchmarks, Qualitative Performance Criteria, and Indicative Targets for the successful completion of the IMF review.

LEAVE A REPLY

Please enter your comment!
Please enter your name here