Pakistan fails to reach staff level agreement with IMF yet despite successful talks
February 10, 2023 12:45 AM
The talks between Pakistan and the International Monetary Fund (IMF) over revival of stalled $7 billion Extended Fund Facility (EFF) remained successful and a formal announcement will be made soon, reported 24newsHD TV channel Thursday.
According to the sources in Finance Ministry, the IMF has given the MEFP document.
The sources said an agreement has been reached with the IMF to take pre-emptive measures.
The IMF has assured to finalize the staff level agreement very soon and after that, the IMF loan agreement will be finalized.
The sources said that all the matters related to the agreement have been agreed upon by both sides.
The IMF mission will issue a detailed statement after approval from Washington.
Earlier, a virtual meeting between Prime Minister (PM) Shehbaz Sharif and IMF Mission was also held to discuss the revival of the loan.
Earlier in the day, Federal Finance Minister Ishaq Dar has said that final round of negotiations with International Monetary Fund (IMF) is under way and is on the right track.
The finance minister said there is no hitch in the talks and everything is going fine. “More talks are going to be held with the IMF today. We will inform you very soon,” he told the reporters.
Dispelling the impression that there were differences between the government and the IMF, Ishaq Dar said negotiations with the money lending organisation were going on smoothly. “There will again be talks with the IMF’s delegation today,” Dar said, adding, “The nation will hear good news soon.”
The finance minister was responding to questions from reporters after addressing a road safety conference in Islamabad.
A delegation of the IMF, headed by Nathan Porter, is currently in Islamabad for discussions on the ninth review. The talks are scheduled to be concluded today.
The review’s completion would not only lead to a disbursement of $1.2bn from the IMF but also unlock inflows from friendly countries and other multilateral lenders that Pakistan needs to stave off default.