Govt Determined to Complete IMF Program in Sept
Islamabad: According to news sources, the government announced on Thursday that it is dedicated to finishing the International Monetary Fund (IMF) program by September and that the 7th review with the IMF team is proceeding as planned.
In a statement, the ministry of finance dispelled rumors about the ongoing 7th review under the IMF’s Extended Fund Facility (EFF), stating that negotiations under the 7th review were proceeding as scheduled and that the two sides remained engaged on a technical level through regular virtual meetings and data sharing.
Seventh review negotiations have centered on the parties’ mutually agreed-upon objectives and the newly announced relief and industrial promotion packages.
According to the statement, “there is consensus that all agreed-upon targets for the end of December have been met, and adequate progress has been made on other initiatives outlined in the Memorandum on Economic and Financial Policies (MEFP) for the sixth review.”
The IMF has been provided with comprehensive information on the rescue plan, including potential financing options, and has formed a fundamental understanding.
In contrast, the IMF has indicated that additional discussions on the industrial promotion package will be necessary in the coming days. Following these discussions, it is anticipated that a package agreement will be reached.
After the conclusion of the technical discussions, the 7th review text of the Memorandum on Economic and Financial Policies (MEFP) will be discussed.
“The Government is convinced that the completion of the MEFP will result in an IMF Board meeting by the end of April,” the statement continued. The government remains committed to successfully concluding the IMF program in September.”
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