Pakistan delegation reaches US to negotiate with IMF for loan

WASHINGTON: A Pakistani delegation led by Finance Minister Muhammad Aurangzeb has arrived in Washington D.C, United States to participate in the spring meetings of the International Monetary Fund (IMF) and World Bank.

The Governor State Bank of Pakistan, the secretary Finance, the additional secretary and others are included in the Pakistani delegation.

On arrival at the airport, Ambassador of Pakistan to the United States Masood Khan and the officers of the Embassy of Pakistan welcomed the Finance Minister.

During his stay in US, the Finance Minister will meet IMF and World Bank officials.

Negotiations between Pakistan and the IMF are scheduled for next week, sources report.

According to sources, Islamabad will request the IMF for a new loan programme.

Meetings with international media and think tank representatives are also included in the Finance Minister’s schedule.

Pakistan and the IMF last month reached a staff-level agreement on the second and last review of the $3 billion stand-by arrangement, which, if cleared by the global lender’s board, will release about $1.1 billion to the country.

The IMF’s board is expected to review the matter in late April, but no firm date has been set, a spokesperson said.

Pakistani delegation reaches US to negotiate with IMF for fresh loan