Negotiations between Pakistan and the International Monetary Fund (IMF) remain deadlocked as the agenda of the executive board meeting of the international lender did not include Pakistan as an agenda item.
The names of other countries, including Uganda and Iceland, have been included for approval at the IMF Executive Board meeting.
“Finance Ministry officials and IMF officials will hold a virtual meeting in the coming days,” Finance Ministry sources told JEE News. A special meeting of the IMF can be called.
A special meeting of the IMF’s Executive Board may be convened in case of staff-level agreement.
The $6.5 billion IMF loan program is ending on June 30, Finance Ministry officials said.
According to the data of the Ministry of Finance, Pakistan has so far received only 3.9 billion dollars.
It is important to mention here that the IMF has about 2.5 billion dollars pending.
Pakistan needs convincing budget for any chance of more funds, IMF official says
An IMF official said Pakistan has to satisfy the IMF on three issues, starting with Friday’s budget, before its board will consider whether to continue the loan program that expires this month. Whether or not to release some of the $2.5 billion pending under
International Monetary Fund Resident Representative for Pakistan Esther Perez Ruiz said on Thursday that there was only one time for a final review by the IMF board before the end of the $6.5 billion Extended Fund Facility (EFF) at the end of June.
