Staff level agreement between Pakistan, IMF not reached

Islamabad: A staff-level agreement could not be reached between Pakistan and the International Monetary Fund (IMF), reportedly.

According to media reports, the IMF has shared the Memorandum of Economic and Financial Policies (MEFP) for the agreement and new conditions have been added to it.

The Finance Minister and the Governor of the State Bank will agree on the MEFP. The new conditions under the MEFP will have to be implemented in the next six months and the MEFP has conditions for the upcoming budget, climate, and energy sectors.

It is also reported that the MEFP conditions will have to be met to receive the second tranche, and an agreement will be reached after the MEFP is agreed with the IMF.