Finance Ministry says positive engagement with IMF to continue in coming weeks

ISLAMABAD: Following the concluding session with the International Monetary Fund (IMF) Mission, the Finance Ministry on Tuesday said that positive engagement with the IMF will continue over the coming weeks to finalise the program with the Fund.

According to the Ministry of Finance, the IMF Mission during its stay in Pakistan, held extensive talks with the key ministries of the government of Pakistan, including the Ministries of Finance, Planning, Development & Reform, and Energy and the State Bank of Pakistan.

“During the talks substantive progress has been made by the government of Pakistan and the IMF Mission towards developing a common understanding on the policy and structural reforms framework for the prospective IMF program, including fiscal and monetary measures, corrective interventions for balance of payments sustainability, pro-poor spending, governance and development of a business-friendly environment,” said the ministry.

Read More: Pakistan, IMF extend bailout talks after failing to reach agreement

Members of the parliament and provincial finance ministries also exchanged views with the Mission.

Federal Minister for Finance Asad Umar today chaired the concluding session with the IMF Mission, led by Harald Finger, which was on visit to Pakistan from November 7.

Pakistan is negotiating its second IMF bailout since 2013 and talks were expected to conclude this month during the visit by the IMF delegation to Islamabad, however Pakistan has extended talks with the Fund after the two sides failed to agree on the terms of a bailout package. Now a final deal is expected by mid-January.