IMF starts third loan review talks with Pakistan, finance minister says UAE rollover not an issue

Pakistan will hold detailed discussions with the International Monetary Fund under the third review of the Extended Fund Facility programme, while concerns over the rollover of deposits from the United Arab Emirates are unfounded, Finance Minister Muhammad Aurangzeb said.

The IMF delegation has arrived in Karachi and will begin formal talks with Pakistani authorities in Islamabad from Monday. The review will assess performance criteria, fiscal targets and broader macroeconomic indicators agreed under the programme.

The minister said the review will cover all benchmarks under the arrangement and expressed confidence about the country’s position, particularly in relation to tax collection. 

He said detailed discussions would be held on the performance of the Federal Board of Revenue and that the government would brief the IMF team on progress against agreed targets.

Addressing concerns about the rollover of UAE deposits, he said Pakistan remains in close contact with UAE authorities and there is no issue regarding the extension of the deposits.

The minister said the government continues to implement the financing plan agreed with the IMF and remains committed to meeting its obligations under the programme.

He also referred to progress on digital finance reforms, stating that legislation on cryptocurrency is expected to be approved soon. The government is working to bring cryptocurrency and tokenisation into a formal regulatory framework to ensure oversight while supporting innovation, he said.