On Sunday, Perez Ruiz said that external funding requirements had not changed throughout the discussions, under a review that would unlock USD 1.1 billion in financing for the cash-strapped South Asian nation as part of a USD 6.5 billion IMF package, Dawn reported.
In a statement, Nathan Porter, IMF Mission Chief to Pakistan, said that the IMF "looks forward to obtaining the necessary financing assurances as soon as possible to pave the way for the successful completion of the 9th Extended Fund Facility (EFF) review".
The International Monetary Fund (IMF) has "welcomed" Pakistan's confirmation of having secured crucial bilateral support from key partners and said it looked forward to receiving further "financing assurances as soon as possible", which would help conclude the much-delayed ninth review of a
Such a rollover is critical for Pakistan, whose foreign exchange reserves have fallen to four weeks' worth of imports at a time when it is seeking a $1.1 billion IMF bailout tranche.
Pakistan has had a low labour force participation rate over the past 20 years, and its investment rate has been at 15 per cent of GDP, significantly below the strongest performers in the area, The Express Tribune reported.
Inflation, external concerns, and supply disruption are anticipated to have a significant impact on the economy in the future amid heightened recessionary risks.
According to sources within the Finance Ministry, the incumbent government has decided to seek Washington's help as the majority of the demands of the fund have been completed. "There is no need for further delay in the staff-level agreement."
According to Dawn, a clear roadmap on external financing and domestic budgetary steps, coupled with substantial energy cost adjustments, should have led to sharing of a draft Memorandum of Economic and Fiscal Policies (MEFP) by the visiting IMF mission wit the authorities at least a day b
To pave the way for a staff-level agreement and release of $1 billion tranche under the Extended Fund Facility (EFF), a timeframe of two to three weeks has been given for implementing "all required actions".
Islamabad [Pakistan], October 6 (ANI): Pakistan's minister of state for Finance and Revenue Aisha Ghous Pasha said that the country had not breached the agreement with the International Monetary Fund (IMF), saying "any shortfall in petroleum duties will be adjusted in coming months".