Islamabad June 27 2023: Over the past few days, the Pakistani authorities have taken decisive measures to bring policies more in line with the economic reform program, says Nathan Porter, IMF Mission Chief to Pakistan.
Pakistan’s finance minister Ishaq Dar said in an interview on Tuesday evening that the government was searching for a mechanism to receive all pending funds under the IMF programme, which would amount to $2.6 billion
Pakistan authorities have taken fiscal as well as monetary measures under economic reform program supported by the International Monetary Fund (IMF), says IMF Mission Chief to Pakistan.
Nathon said, these measures include the passage of a budget by the parliament that broadens the tax base while opening up space for higher social and development spending as well as steps towards improving the functioning of the foreign exchange market and tightening monetary policy to reduce inflationary and balance of payment pressures that affect particularly the more vulnerable.
“The IMF team continues discussions with Pakistani authorities with the aim of quickly reaching an agreement on financial support from the IMF”
says Nathon Porter IMF Chief Mission to Pakistan
Pakistan hopes a bailout decision from the International Monetary Fund (IMF) will come in a day or two, its prime minister said earlier on Tuesday.
Pakistan has been waiting for a deal after taking policy and fiscal tightening decisions required by the IMF for the disbursal of $1.1 billion under the lender’s ninth review of a $6.5-billion Extended Fund Facility agreed in 2019.
