Pakistan looking forward for Extended Fund Facility (EFF) tranche of $ 1.18 billion dollars
Pakistan and IMF already conducted marathon discussions since 2019
IMF country representative in Pakistan Esther Perez Ruiz said that the ninth review under the Extended Fund Facility (EFF) have been productive, and have enabled a revision to the macroeconomic outlook post-floods.
She went on to add that the country needs to fix multiple economic indicators and reexamine the targets for fiscal discipline and deficit control.
“Discussions to date in the context of the 9th review have been productive, and have enabled a revision to the macroeconomic outlook post floods as well as an in-depth evaluation of fiscal, monetary, exchange rate, and energy policies adopted since the completion of the combined seventh and eight reviews,”Ruiz concluded.
Finance Minister Ishaq Dar on Tuesday announced that all matters pertaining to the ninth review of the International Monetary Fund (IMF) package were completed and that payments were prepared till June.
Pakistan was pursuing financial help from Saudi Arabia, including doubling the current deferred oil payment facility given by the kingdom to $2.4 billion per year,Ishaq Dar added.
Pakistan entered a $6bn IMF programme in 2019, which was increased to $7bn earlier this year. The programme’s ninth review is currently pending with remote talks being held between IMF officials and the government for the release of $1.18bn.