IMF delegation arrives in Pakistan for talks on release of third tranche

ISLAMABAD: A delegation of the International Monetary Fund (IMF) has arrived in Islamabad for talks on release of third tranche of the $6 billion bailout package for Pakistan, ARY News reported.

Sources said that the IMF delegation will hold talks with the Pakistani authorities and discussed various issues pertaining to the loan. The discussion will continue till February 13.

The Pakistani authorities will brief the delegation about privatization program, current account deficit and budget deficit.

The sources maintained that Pakistan has already achieved the IMF’s target for release of the development funds.

Read More: Pakistan receives second tranche of $452mn from IMF

Earlier on January 6, Pakistan had received $452.4 mn as a second tranche of the $6 billion Extended Fund Facility from the International Monetary Fund (IMF).

Confirming the report, a spokesperson of the State Bank of Pakistan (SBP) had said that the release of second tranche amounting to over $452mn showed IMF’s confidence over the government’s economic policies. The amount will be added to the bank’s data next week, he had added.

The spokesperson had said that central bank’s net reserves increased by $14mn to $10.9 billion during the week ending December 20.