Karachi: The International Monetary Fund mission has reached Pakistan for the next economic review under Pakistan’s loan programme. The mission will hold technical discussions with State Bank officials in Karachi in the first phase.
According to sources in the Ministry of Finance, the talks will review Pakistan’s recent economic performance. State Bank officials will brief the IMF delegation on key figures and developments related to the country’s external and financial sectors.
According to sources, foreign exchange reserves, monetary policy, imports and foreign exchange situation will be among the main topics of the talks. Pakistan has also achieved the target of maintaining foreign exchange reserves above $17 billion.
The current account situation will also be discussed during the technical talks. The IMF officials will also be briefed on Pakistan’s progress in foreign direct investment and the recent issuance of Eurobonds.
Funds received from external sources and the country’s overall external fiscal position will also be part of the talks. In this phase, economic data and progress on the targets set under the programme will be reviewed.
After completing the talks with the State Bank, the IMF mission will move to Islamabad on September 25. After this, the talks with various government institutions will continue.
According to sources, the IMF delegation will also meet with representatives of provincial governments and the business community. Issues related to economic activities, business environment and reforms are expected to be discussed in these meetings.
Formal talks between Pakistan and the IMF are likely to begin on September 28. This phase will begin after the Finance Minister returns from the United States.
During the talks, officials from the Ministry of Finance, the Privatisation Division, the Ministry of Energy and the Federal Board of Revenue will also interact with the IMF mission.
The review will review Pakistan’s progress under the loan programme, progress on economic targets and future policy measures. The success of the talks will be crucial for progress on the next tranche.
Overall, the current visit of the IMF mission represents a significant phase in Pakistan’s ongoing loan programme. Technical discussions in Karachi will be followed by broader discussions in Islamabad to review the progress of the programme in detail.
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