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No significant obstacles stand in IMF talks, says Finance Minister

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Digital Desk

1 year ago

No significant obstacles stand in IMF talks says Finance Minister

ISLAMABAD: With negotiations nearing their conclusion and no significant obstacles standing in their way, Finance Minister Muhammad Aurangzeb has voiced confidence that Pakistan will soon hear positive news from the International Monetary Fund (IMF).

Pakistan is on course to fulfill the IMF’s goals for economic restraint. He emphasised that discussions with the global lender are progressing smoothly and that the ongoing talks will conclude soon, Finance Minister while Speaking to journalists on Friday. the minister reassured that

Pakistan is following the financial plan that was agreed upon. we remain focused on fiscal responsibility, which will help secure the next tranche of funding. Aurangzeb underscored the government’s commitment to economic reforms.

In the first review of the $7 billion loan program, Pakistan and the IMF have made great strides toward a Staff-Level Agreement (SLA).

“Significant progress was achieved in the direction of a Staff Level Agreement on the first review between the IMF and the Pakistani authorities,” said IMF Mission Chief to Pakistan Nathan Porter, in a statement last week

From February 24 to March 14, the IMF team, headed by Porter, visited Pakistan to discuss the first evaluation of the EFF-backed economic program in Pakistan and the potential for a new agreement under the lender’s Resilience and Sustainability Facility (RSF).

According to the government, Pakistan is on track for a long-term recovery, and the country’s most recent loan program, which was obtained by the government of Prime Minister Shehbaz Sharif last year, has been crucial in stabilizing the economy.

Digital Desk