IMF mission to arrive in Pakistan today for review talks

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

Sources said that the talks will be held from March 14 to March 18.

he country’s newly sworn-in Finance Minister Mohammad Aurangzeb has given the green signal for talks with the IMF for the SBA and a new loan programme.

Islamabad will hold talks with the international lender about the last tranche of $1.1 billion under the SBA programme. Pakistan has already achieved the targets set by the IMF for the second review, the sources said.

They further said Pakistan is likely to request IMF for a $6 to 8 billion fresh loan programme. Finance ministry sources said Islamabad will engage the IMF on the economic targets for the fresh loan programme.

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.