IMF-Pakistan virtual talks begin today

ISLAMABAD: Virtual talks between the International Monetary Fund (IMF) and Pakistan for the completion of the ninth review of $7 billion loan programme will begin today, ARY News reported, quoting well-placed sources.

On February 9, Pakistan received the Memorandum of Economic and Financial Policies (MEFP) draft from the international lender.

Talks between IMF and finance ministry officials will kick off virtually today. The officials of the finance ministry will brief the IMF about the implementation of the conditions set by them for the revival of the loan program.

Sources further say that the plan for hiking electricity and gas prices has been shared with the IMF, for which the Economic Coordination Committee’s nod has also been taken.

The virtual talks will continue tomorrow also.

Read more: Pakistan-IMF talks fruitful, announcement due shortly: sources

IMF statement

The International Monetary Fund (IMF) today issued an official statement following the conclusion of the 9th review talks on the stalled loan program.

IMF mission chief Nathan Porter, in a statement, said that the timely and decisive implementation of policy measures along with resolute financial support from official partners are critical for Pakistan to successfully regain macroeconomic stability and advance its sustainable development.

The statement, issued after the mission concluded its 10-day Pakistan visit, welcomed Prime Minister Shehbaz Sharif’s commitment to implement policies that are required to “safeguard macroeconomic stability”.

He also thanked the leads for the “constructive discussions”.