Federal Minister for Finance Muhammad Aurangzeb has said that Pakistan’s recent negotiations with the International Monetary Fund (IMF) have been positive and so far, no major obstacle is visible.
The IMF mission was led by Chief Eva Petrova, who met Pakistan’s economic team in Karachi and Islamabad from September 24 to October 8. These meetings reviewed the implementation of the $7 billion Extended Fund Facility (EFF) and the $1.1 billion climate resilience program (RSF).
A day earlier, the IMF had stated that significant progress had been made regarding the second review of the 37-month EFF program and the first review of the 28-month RSF program. The program’s implementation remains strong and is generally aligned with the authorities’ commitments.
Speaking online today with a high-level Saudi business delegation, the finance minister said that Pakistan’s discussions with the IMF mission had been very good and positive.
He added that some issues are still under discussion, but in his view, there are no major hurdles. The talks would continue online tonight and over the weekend, and expressed hope that by early next week—when he, the State Bank Governor, and the Finance Secretary would be in Washington—the staff-level agreement would be finalized.
On the other hand, the finance minister termed the Saudi delegation’s visit as timely and said it is an opportunity for Pakistan to invite investors and ensure a better business environment for existing investors.
