Negotiations between Pakistan and the International Monetary Fund (IMF) on the budget for the next financial year (FY) 2025-26 will get underway today, reported 24NewsHD TV channel on Wednesday.
Quoting its sources, the 24News TV channel reported that in the first round of the negotiations, which would be online, the two sides would share data on budgetary proposals and important targets.
They informed that an IMF delegation and the mission chief were expected to visit the country next week, subject to the evolving security situation, while on the other hand, the economic team of the government, consisting of the Finance Ministry and the FBR officials, had completed its preparations to brief the Fund officials.
The talks will continue until May 16, 2025.
Originally planned to be held in person, the IMF mission’s visit was postponed after tensions in the region emanating from the Pak-India conflict, particularly due to security risks affecting air travel. Despite this, the IMF emphasized that the delay will not affect the agenda or timeline of the budget discussions.
As the government moves forward with the budget preparations, the IMF has appointed Iva Petrova, a Bulgarian economist, as the new Mission Chief to Pakistan.
Petrova, who holds a PhD in economics, has previously led IMF missions in Armenia and has worked with teams in Israel, Iceland, and Latvia.
The government is set to present its budget on June 2, ahead of the Eidul Adha holidays.
Reporter: Waqas Azeem