IMF visit to Pakistan delayed until new govt forms

This visit is crucial for concluding the $3 billion Standby Arrangement (SBA) due to expire on April 12

The International Monetary Fund (IMF) has postponed its review mission to Pakistan, originally scheduled following the February 8 general elections, until the new federal and provincial governments are established, a process expected to last two to five weeks.

This visit is crucial for concluding the $3 billion Standby Arrangement (SBA) due to expire on April 12 and for discussing a medium-term bailout package essential for avoiding a default on foreign debt repayments.

The delay, necessitated by the need for government formation at both the national and provincial levels, puts the finalization of the IMF’s second review and the release of a $1.2 billion tranche on hold. Pakistan’s foreign exchange reserves have dwindled to $8.04 billion as of early February, emphasizing the urgency of the IMF’s financial support.

The review, now rescheduled to March 15, 2024, aims to provide Pakistan with enough time to meet the program’s structural benchmarks. However, election controversies and calls for investigation into alleged voting irregularities have further complicated the timeline. The successful completion of the IMF review is pivotal for Pakistan to avoid a balance of payments crisis and to secure a new financial agreement that will influence the country’s economic policy and reform agenda moving forward.

Monitoring Desk
Monitoring Desk
Our monitoring team diligently searches the vast expanse of the web to carefully handpick and distill top-tier business and economic news stories and articles, presenting them to you in a concise and informative manner.

1 COMMENT

  1. Losing one Cryptocurrency can be a devastating thing to experience, the fact that it is almost impossible to recover a Stolen or lost Crypto coin hurts more than anything. When a person gets scammed of their money while investing in a crypto currency platform the only thing they can think of is how to report the company and get back their money. Most victims of the scam contact their wallet account provider, their bank or the law enforcement, a few end up hiring a lawyer to sue the company but after all these stress they still can’t get their money back. Please everyone should be careful where they invest their money. Cryptocurrency has made many rich and at the same time made so many broke and desperate. Few weeks ago I was referred to Rustik Cyber Hack Service Funds Recovery Email : rustikcyberhackservice @ gmail. com and I was able to get back all my bitcoin that was Stolen through a fake investment company. If you want to recover your cryptocurrency that was stolen or lost I recommend you to Rustik Cyber Hack Service WhatsApp:+ 1.38.63.48.78.38 are reliable and trustworthy. contact them I wish you all the best. Telegram: rustikcyberhackservice Web site: rustikcyberhackservice. com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

With an eye on profits and a focus on sustainability, HBL...

The first non-financial subsidiary of a bank to get approval from the SBP, HBL Zarai has already been approached by the SIFC and is set to work with the government of Punjab as well as small farmers