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Pakistan, IMF negotiations on Short Term Loan Program yet to reach conclusion

By News Desk

March 18, 2024 10:07 PM


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The negotiations between Pakistan and the International Monetary Fund (IMF) regarding the Short Term Loan Program have not yet reached a conclusion, reported 24NewsHD TV channel Monday.

Despite the scheduled completion of review talks today (Monday), there is talk of a potential one-day extension, reported the channel citing its sources.

Insiders suggest that brief discussions between the IMF delegation and Pakistan's economic team are expected tomorrow.

A pivotal topic on the agenda is the letter of intent with the IMF, which is likely to undergo scrutiny during these talks.

The Ministry of Finance remains optimistic, indicating that the negotiations are moving towards a constructive and positive close.

They assert that no significant hurdles are impeding the success of these discussions. This sentiment is bolstered by reports that Pakistan has met the quarterly targets set by the IMF and has taken serious measures to align with the Fund's objectives.

Interestingly, no new targets were issued by the IMF for this last review, but the Ministry emphasizes that the Fund's assurance is crucial for a successful negotiation outcome.

Should talks conclude favourably, a staff-level agreement is anticipated, followed by a recommendation for Pakistan to receive the final instalment of 1.1 billion dollars.

Upon successful negotiations, it is expected that the IMF Executive Board will be advised to release this instalment for Pakistan, which has already received two instalments totalling one billion and 90 million dollars.


News Desk


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