Talks with IMF for third tranche of $450m to begin from Feb 3 | Pakistan Today

Talks with IMF for third tranche of $450m to begin from Feb 3

ISLAMABAD: Pakistan and the International Monetary Fund (IMF) will hold talks for disbursement of the third tranche of $450 million under the $6 billion Extended Fund Facility (EFF) from Feb 3, it emerged on Wednesday.

The IMF delegation will perform quarterly reviews of the economy in the current fiscal year. The delegation will reach Islamabad on Feb 2 as the review meeting is scheduled on the following day. The talks will review Pakistan’s second-quarter financial performance.

The global moneylender will also consider the performance of various ministries and government departments, and in particular, energy and tax reforms under the current regime.

The delegation will also call upon Advisor to Prime Minister on Finance and Revenue Abdul Hafeez Shaikh and Federal Board of Revenue (FBR) Chairman Shabbar Zaidi.

Pakistan received the second tranche of $454 million from the IMF in late December. The IMF at that time declared that Pakistan’s reform program was “on track and has started to bear fruit”.

Following the release of the second tranche, the total amount of money granted so far by the IMF under the current program rose to $1,440 million.

The IMF, after completing its first review of Pakistan under the EFF, noted that “decisive” implementation of government policies had helped preserve economic stability in the country.

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