Pakistan and the International Monetary Fund (IMF) may soon finalize a schedule of formal talks to complete the stalled 9th review of the Expanded Fund (EFF) of $7 billion.
Sources said Pakistan and the IMF held mock talks on Tuesday on the 9th review, but the first round of mock talks remained unclear.
Sources said the Pakistani team, led by the finance minister, assured the IMF that it would complete all previous actions. Pakistan also shared additional information on the budget and other areas with the IMF.
Sources said Pakistan again asked the IMF to send its mission to Islamabad in a bid to revive the derailed bailout, however, the IMF team insisted on first implementing previous actions, including a market-based exchange rate, of imposing new taxes to address the Federal Board of Revenue’s (FBR’s) fiscal target for the current financial year, curbing circular debt and ending subsidies.
Sources said the second round of mock talks between IMF and Finance Ministry officials may take place tomorrow, where Pakistan will again try to finalize the date of the lender’s team visit to Islamabad.
Earlier in the day, Prime Minister Shehbaz Sharif said that Pakistan had given a clear signal to the International Monetary Fund (IMF) about its desire to complete the 9th revision.
“We have given the IMF a clear message that we want to complete the 9th review. We are ready and want to sit for your terms so that Pakistan can be completed and moved forward,” the prime minister said.
On Monday, abdullahayub.com reported that the IMF rejected Pakistan’s request to send its team to complete the 9th assessment and asked the Finance Ministry to take all previous actions first.