IMF delegation reaches Pakistan to discuss third EFF tranche

ISLAMABAD: A delegation of the International Monetary Fund (IMF) reached Islamabad on Sunday to hold talks with the Pakistani side over the release of the third tranche of loan.

According to IMF’s Resident Representative for Pakistan Teresa Daban, the delegation would initiate dialogue over the second review in connection with the Extended Fund facility (EFF) loan programme from Monday and continue meetings with the government representatives till February 13.

Daban confirmed the review delegation would issue its report at the conclusion of its visit.

The IMF delegation would hold a quarterly review of Pakistan’s economy besides the performance of different ministries and departments.

The energy and tax reforms would also come under review.

In December 2019, the global money lender said Pakistan’s programme was on track and had begun to bear fruit, but warned of certain risks.

The IMF’s statement came after it approved second tranche of $452 million under the $6 billion EFF for Pakistan.

The IMF’s Executive Board on July 3, 2019 had approved a three-year bailout package worth $6 billion to Pakistan. Pakistan had received the first tranche of loan of $991.4 million from the fund soon after the agreement

Following the Executive Board’s decision, First Deputy Managing Director and Acting Chair David Lipton, in a statement, said the country’s EFF programme was on track and had started to deliver, but he also warned about some risks involving macroeconomic stability.

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