IMF, Pakistan Talks for Second Tranche of $700 Million Start Today

The International Monetary Fund (IMF) review mission led by Nathan Porter has reached the Ministry of Finance in Pakistan to commence discussions on the first review of the $3 billion stand-by arrangement (SBA).

This marks the beginning of the much-anticipated economic review talks between Pakistan and the IMF, as the nation seeks financial support and guidance from the international organization.

In the first phase of these talks, both parties are set to engage in technical-level negotiations, laying the groundwork for the upcoming discussions.

Ahead of these crucial talks, a late meeting was held at the Finance Division on Wednesday chaired by Caretaker Finance Minister Dr. Shamshad Akhtar, according to sources.

Key officials including the Minister of Energy, Minister of Privatization, Minister of Planning, and Chairman Federal Board of Revenue (FBR) attended the meeting.

During the meeting, the finance minister provided a detailed briefing on the progress made in achieving the financial targets and the preparations made for negotiations with the lender.

The finance minister issued instructions to other ministers and officials to be thoroughly prepared and ready to engage the IMF.

The economic review, conducted under the $3 billion SBA, is scheduled to kick off today. The IMF mission will be initially presented with a comprehensive report detailing the progress made in implementing the financial targets, shedding light on the current economic landscape of Pakistan. This marks a critical step in the ongoing efforts to address the nation’s economic challenges and seek support from the crisis lender.

Source: Pro Pakistani