Pakistan-IMF talks begin in Qatar

Doha: Pakistan and the International Monetary Fund (IMF) talks have started in Doha from Wednesday (today) for a week in a renewed effort to strike a staff-level agreement for the release of $1 billion tranche under the Extended Fund Facility (EFF). 

Finance Minister Miftah Ismail, Minister of State for Finance Dr. Aisha Ghous Pasha, Finance Secretary Hamed Yaqoob Shaikh, Acting Governor State Bank of Pakistan Dr. Murtaza Syed, Chairman FBR Asim Ahmad and senior officers from Finance Division joined the talks virtually.

So far, the IMF has disbursed $3 billion to Pakistan. 

Talks with the IMF Mission started today. Finance Minister Mr. Miftah Ismail, MoS Dr. Aisha Ghous Pasha, Finance Secretary Hamed Yaqoob Shaikh, Acting Governor SBP Dr. Murtaza Syed, Chairman FBR Mr. Asim Ahmad and senior officers from Finance Div joined vitually.@MiftahIsmail

— Ministry of Finance (@FinMinistryPak) May 18, 2022

If the latest review is cleared, the government will receive another tranche of more than $900 million, which would in turn unlock additional external funding. 

Pakistan is in dire need of external finances due to a widening current account deficit and rapidly depleting foreign exchange reserves.