IMF mission arrives in Pakistan for review talks

ISLAMABAD: The International Monetary Fund (IMF) mission arrived in Pakistan for the economic review of Pakistan’s $3 billion Stand-By Arrangement (SBA), ARY News reported on Thursday citing sources.

According to sources, the talks will kick off after IMF delegation’s introductory meeting with Finance Minister Muhammad Aurangzeb along with the Finance Secretary and Governor State Bank of Pakistan.

Sources said that Pakistan has already achieved the targets set by the IMF for the second review and the country will not present a new mini-budget under the current IMF programme.

Islamabad will hold talks with the international lender about the last tranche of $1.1 billion under the SBA program.

Read more: ‘Pakistan wants to seal longest deal with IMF in country’s history’

Yesterday, Finance Minister Muhammad Aurangzeb said that Pakistan wants to seal the biggest and longest-running program from the International Monitory Fund (IMF), in the country’s history.

Aurangzeb said that the improvement of Pakistan’s economy is the goal of our government more than the IMF. PM Shehbaz Sharif has a clear vision for the upliftment of the ill economy, the minister said and added the premier has given strict instructions in this regard.

On March 8, the International Monetary Fund (IMF) said it is ready to send mission to Islamabad for the second economic review after the formation of PM Shehbaz Sharif’s cabinet.

The IMF Director of Communications said that the focus currently is on completing the ongoing Stand-By Program, which is ending in April 2024, a mission for the second review of the Stand-By Program would be dispatched immediately after the formation of the new cabinet in Pakistan.