Pakistan and the International Monetary Fund have reached a staff-level agreement on second and final review under the Stand-By Arrangement today. The agreement has paved the way for the release of the final $1.1 billion tranche from the IMF.
Pakistan and the IMF are yet to reach a consensus on a staff-level agreement, which is necessary for the completion of the second review and the components of the third tranche of $1.1 billion.
Hours before the start of talks with the International Monetary Fund’s Review Mission, the Ministry of Finance has claimed that Pakistan has successfully achieved the targets of the second review.
Federal Finance Minister Muhammad Aurangzeb has said that Pakistan is willing to take a bigger and longer program from the International Monetary Fund (IMF).
A senior IMF official has avoided to respond on Pakistan’s political situation, lauding the caretaker government for maintaining economic stability.
The International Monetary Fund has demanded of the Pakistan government to implement 18 per cent GST on various items including food, medicine, petroleum products and stationery.
