ISLAMABAD: The Finance Ministry announced the other day that consultations with the International Monetary Fund (IMF) under Article IV will begin in Dubai on March 28.
The IMF delegation was invited to Islamabad for the consultations but in view of the security situation, the visit could not take place, the Finance Ministry said on Saturday evening. It further said that now the consultations had been scheduled to be held in Dubai.
Earlier, both the sides had agreed to hold talks in Pakistan due to the improved law and order situation in the country.
However, the terrorist attacks in the last month in different cities of Pakistan have forced the IMF’s officials not to hold the talks in the country.
Pakistan had said goodbye to the IMF last year, after completing three years extended fund facility programme worth $6.64 billion.
However, every member country of the IMF, including Pakistan, needs a clean chit from the fund on the economic situation of the country every year.
Pakistan would be in a better situation for getting loans from the World Bank, Asian Development Banks and other international financial institutions if IMF shows satisfaction over Islamabad’s economic situation.