IMF Will Review its $6 Billion Loan to Pakistan Soon


Pakistan and International Monetary Fund (IMF) will hold talks starting from February 3 for the second review under the $6 billion Extended Fund Facility (EFF).

This was confirmed by IMF's Resident Representative Teresa Daban Sanchez. She said,

The IMF and Pakistani teams are already conducting preparatory work on the issues pertaining to the second review and the 2018 Article IV Consultations. Everything is getting ready for an IMF mission to visit Pakistan. The team is scheduled to travel in the next few days and start working as soon as possible next week, hopefully starting on Monday, February 3.

The mission will evaluate the implementation of economic targets agreed by Pakistan for the $6 billion loan facility. The IMF mission will also meet Advisor on Finance Dr. Abdul Hafeez Sheikh and Federal Board of Revenue (FBR) Chairman Shabbar Zaidi. The talks will last for 11 days.

On July 3, 2019, the IMF Executive Board had approved the $6 billion for Pakistan for 39 months. The country has received $1.44 billion from the IMF under the EFF so far.

Source: Pro Pakistani