Pakistan: Talks on reviving USD 6 billion IMF package next week
Oct 04, 2021
Islamabad [Pakistan], October 4 : Pakistan and International Monetary Fund (IMF) are set to resume talks next week on the revival of the USD 6 billion derailed programme. Both sides would try to find the middle ground on the debatable issue of an increase in electricity prices.
Finance Minister Shaukat Tarin wanted to conclude the differences on a positive note during the face-to-face meetings with the top IMF management in Washington on October 15, said The Express Tribune citing sources.
The IMF has proposed virtual meetings on October 13 to 15, while not showing its willingness yet for the face-to-face meetings, thus the schedule of the policy-level talks remains tentative and it will be finalised next week, the Pakistani daily reported.
It is to note that the schedule of tentative policy level talks is coinciding with the annual International Monetary Fund- World Bank meetings, which will be conducted from October 11 to 17. Yet, Pakistan's embassy in Washington and the State Bank of Pakistan are trying to get dates for a physical meeting from the IMP top management.
Tarin has already announced that he is scheduled to visit Washington from October 12 to 17 to hold talks with the top IMF management on the sidelines of the annual meetings, The Express Tribune reported.
The publication citing sources said that IMF's local staff also wanted to revive the programme and hinted to give some space to the Pakistani government, but subjected to the condition that it was provided face savings.
If the talks with IMF concludes successfully, the country will be facilitated with an immediate disbursement of USD 1 billion.
USD 6 billion deal between Pakistan and the IMF was signed in July 2019, but the programme was derailed in January 2020 and was restored again in March 2020. Again in June 2021, the programme got derailed. From June to August, there were no serious discussions between the two sides.
