ISLAMABAD: The International Monetary Fund (IMF) has expressed satisfaction over the measures taken by Pakistan for the revival $7 billion Extended Fund Facility (EFF) stalled for months.

According to sources, Pakistan and IMF held virtual negotiations for revival of loan program – stalled for months. During the meeting, the lender expressed satisfaction over the country’s measures, while Pakistan insisted for early finalisation of the staff-level agreement.

The negotiations were moving in a positive direction as the Fund did not place any new demands during the virtual session.

Sources claimed that the State Bank of Pakistan (SBP) apprised IMF representatives about the estimate collection of foreign exchange reserves of $10 billion till June. “Pakistan has also achieved future targets prior to the staff level agreement”, they added. It is pertinent to mention here that the government has accelerated implementing IMF demands to unlock the loan tranche for the revival of country’s economy.

Published in The Daily National Courier, March, 07 2023

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