Pakistan initiates discussion with IMF on larger programme: Finance Minister

WASHINGTON: Finance Minister Muhammad Aurangzeb met with Citibank officials in Washington DC and briefed them on the positive economic indicators including rising stock market, renewed interest of foreign buyers and institutional flows on the back of Stand-by Arrangement (SBA) signed with IMF, ARY News reported.

The Finance Minister said Pakistan has successfully repaid Eurobond on time. He said the government has initiated discussion with IMF on a larger and extended programme.

He also highlighted priority areas of taxation, energy sector overhaul and reforms in state-owned enterprises.

The finance minister is currently in Washington D.C, United States to discuss new loan programme with the International Monetary Fund (IMF) and participate in the spring meetings of the World Bank.

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

It is worth mentioning here that Finance Minister Muhammad Aurangzeb held a meeting with International Monetary Fund (IMF) Managing Director Kristalina Georgieva to discuss the economic reforms agenda in Pakistan.

Muhammad Aurangzeb also appreciated the support of the International Monetary Fund (IMF) and World Bank extended to Pakistan for economic development.

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.