Wednesday, January 25, 2023
HomeNewsIMF and Pakistan: Talks Resume for Next Tranche of Loan

IMF and Pakistan: Talks Resume for Next Tranche of Loan

The International Monetary Fund (IMF) is set to resume talks with Pakistan in regards to the release of a tranche under the ninth review of the Extended Fund Facility (EEF).

According to sources, the two sides will hold virtual talks this week. During these talks, finance ministry officials will provide an update on the country’s economic targets to the IMF officials. The outcome of these virtual talks will determine when an IMF delegation will visit Pakistan.

The government had previously requested that the IMF send a team to Pakistan next week to complete the ninth review for the release of the next tranche of loan, which has been pending since September of last year. The government has reportedly expressed a willingness to implement four major conditions set by the IMF in order to revive the loan program, as Pakistan’s foreign exchange reserves continue to deplete.

These conditions include increasing gas and electricity prices, implementing a market-based exchange rate, and implementing additional taxes to cover the fiscal deficit.

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