IMF arrives in Pakistan, discussion on bailout package not on cards

MG News | March 26, 2019 at 10:51 AM GMT+05:00

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March 26, 2019 (MLN): The International Monetary Fund (IMF) team, led by Mr. Ernesto Ramirez Rigo, arrived in Pakistan yesterday for a two-day visit.

The team shall be meeting the Finance Minister Mr. Asad Umar, Governor State Bank Mr. Tariq Bajwa, Secretary Finance and other officials.

However, no immediate development in bailout talks is expected from this visit as the final decision in that regard will be taken in a meeting to be held next month after IMF and World Bank’s annual meeting in Washington.

Last week, Finance Minister had stated that talks with the International Monetary Fund were in final stages.

He also said that the government will have further negotiations with the newly appointed IMF mission before reaching an agreement.

As per official sources, IMF wants to cut fiscal deficit, reduce losses of state run companies, market driven exchange rate and control inflation broadening tax base.

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