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No chance of Pakistan seeking extension of IMF’s standby agreement: Shamshad

By News Desk

November 9, 2023 02:17 PM


No chance of Pakistan seeking extension of IMF’s standby agreement: Shamshad

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Caretaker Finance Minister Dr Shamshad Akhtar on Thursday categorically refuted reports of Pakistan requesting the International Monetary Fund (IMF) to either extend the timeframe of the standby agreement it had reached with it from March to June 2024 or increase its volume from $3 billion to either $3.5, reported 24NewsHD TV channel.  

Talking to 24News, she said that staff-level talks between the two sides, which have been in progress since November 2, will finish on November 15.

On the other hand, experts have said that the government may heave a sigh of relief if the interest rate comes down, especially in the USA, and petroleum prices also drop in the global market.

Otherwise, they have said, foreign financing could become a big threat for Pakistan.

Caretaker finance minister and the IMF’s Mission Chief Nathan Porter held talks this week, both along with their delegations as well as behind closed doors.



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