IMF delegation to arrive in Pakistan for $700 million loan talks

ISLAMABAD: Pakistan and the International Monetary Fund (IMF) will begin negotiations this week for the next tranche of $700 million, with an IMF review mission visiting Pakistan from November 2 to assess the economic performance of the first quarter.

According to media reports, the preparations made by Pakistan’s economic team for the economic review with the IMF have entered the final stages, and that Pakistan has met all the structural targets set by the IMF.

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Similarly, circulating loans are within the prescribed limits, the fiscal deficit is also in accordance with the set target, and Federal Board of Revenue’s (FBR) tax collections are more than the set target.

However, there are some difficulties regarding the external financing required for the budget deficit, but this is expected to be resolved easily due to assurances from China, the UAE, and Saudi Arabia. – INP