Formal Pakistan-IMF talks kick off today
Formal talks between the Government of Pakistan and a visiting International Monetary Fund (IMF) staff mission for the fourth review of the $7 billion Extended Fund Facility (EFF) and the third review of the Resilience Support Facility (RSF) are set to being today (Monday), reported 24NewsHD TV channel.
The IMF mission, led by Iva Petrova, would stay in Pakistan for about two weeks, until the first week of October, to conduct the fourth review of the EFF and the third review of the RSF.
The talks between the IMF team the Federal Bureau of Revenue (FBR) are expected to lay focus on tax-net expansion and reforms.
The teams from the National Accountability Bureau (NAB) and the Federal Investigation Agency (FIA) will inform the IMF officials about the steps taken to check money laundering and terror financing.
Pakistan is currently under a 37-month IMF programme aimed at stabilising the economy through fiscal discipline, structural reforms and measures to support long-term growth.
Upon successful completion of the reviews, Pakistan will be eligible for the disbursement of about $1 billion (760 million Special Drawing Rights) under the EFF and another $200m under the RSF by the end of November or early December, a total of $1.2 billion.
Reporter Waqas Azeem