IMF mission chief arrives, to hold talks with Pakistani officials on bailout

ISLAMABAD: The officials of Pakistan and the International Monetary Fund (IMF) holding crucial talks for a bailout package on Tuesday as the IMF new mission chief Ernesto Ramirez Rigo arrived in Islamabad, ARY News reported.

IMF mission chief Ernesto Ramirez Rigo who has been on his maiden visit of Pakistan will meet Finance Minister Asad Umar today.

He will also hold talks with the State Bank of Pakistan (SBP) officials and the economic team constituted by the government.

Pakistan could ask for $6 to $8 billion loan from the IMF, sources said. The final agreement between IMF and Pakistan could reach in April in Washington when the International Monetary Fund and the World Bank hold a session, according to the sources.

Finance Minister Asad Umar had earlier said that talks with the IMF had entered in final phase.

“Pakistan has come closer to reaching an agreement with the IMF as the differences have decreased between Pakistan and the IMF over a possible bailout package,” Umar had said while talking to journalists.

Umar, said that the government would further negotiate with the newly appointed IMF mission chief before reaching to an agreement.

The new IMF Mission chief for Pakistan would hold important meetings with the officials of finance ministry and State Bank of Pakistan to finalize an agreement, the minister had said.

Ernesto Ramirez Rigo has replaced Herald Finger, the previous mission chief of IMF for Pakistan.