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HomeBusinessPakistan-IMF virtual engagement starts for 9th review

Pakistan-IMF virtual engagement starts for 9th review

A virtual engagement has started between Pakistan and International Monetary Fund (IMF), the finance ministry has said.

Earlier there was a report in local media that IMF had asked Pakistan cut its expenses. The report stated that Pakistan was asked to reduce expenses before talks on the ninth review of a $7 billion loan programme.

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Earlier the IMF had asked for the details of its flood expenses. The government has shared the fiscal data along with details of floods and other related expenses, the ministry has stated. It has also been said that a team of the Fund will soon visit Pakistan.

IMF resident representative Esther Perez Ruiz said, “The timely finalization of the recovery plan is essential to support the discussions, along with continuing financial support from multilateral and bilateral partners.”

According to the report, there had been some policy slippages on part of the government that had caused delays in the finalization of the ninth review.

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Pakistan had successfully received the tranche worth $1.17 billion of combined seventh and eighth reviews a few months back.

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