Pakistan, IMF begin second review talks today, flood recovery on 'agenda'

ISLAMABAD: Pakistan and the International Monetary Fund (IMF) are set to begin the second review talks on the ongoing loan program on Thursday (today), ARY News reported.

Sources privy to the development said discussions will also focus on flood recovery and revenue generation measures.

The IMF mission has already met with provincial officials to review proposals for increasing provincial revenues in order to provide relief packages for flood-affected communities.

The IMF team also held discussions with provincial authorities on the scale of flood-related damages.

Sources said final discussions on proposals related to relief packages for flood victims will take place in the coming days.

Talks with the IMF will also cover the disbursement of the next $1 billion tranche under the loan program. Pakistan’s economic team completed its preparatory meetings yesterday to finalize the country’s economic review.

Officials indicated that Pakistan will seek flexibility from the IMF in meeting economic targets, citing setbacks caused by the floods.

Earlier, Prime Minister Shehbaz Sharif urged the International Monetary Fund (IMF) to consider the impact of the recent floods on Pakistan’s economy in its ongoing program review, stating that Pakistan was making steady progress towards meeting the various targets and commitments under the IMF program.

The Prime Minister made these remarks during a meeting with IMF Managing Director Kristalina Georgieva on the sidelines of the 80th Session of the United Nations General Assembly in New York.