IMF, Pakistan make substantial progress towards policies to support ninth EFF review

MG News | March 21, 2023 at 09:41 AM GMT+05:00

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March 21, 2023 (MLN): The International Monetary Fund (IMF) on Monday announced that significant progress has been made in discussions with Pakistan toward policies that will underpin the ninth Extended Fund Facility (EFF) review.

In a statement, Dr. Esther Perez Ruiz, the Resident Representative of the IMF in Pakistan said that discussions over the past few days have been fruitful, with both sides making significant strides toward a mutually agreeable policy agenda.

According to Dr. Perez Ruiz, the next priority is to ensure that there is sufficient financing available to support the authorities in the implementation of their policy agenda.

She emphasized that this is a paramount priority at this point in time, and once this has been addressed, a staff-level agreement will be reached.

EFF is a financial arrangement between the IMF and a member country, providing economic support and policy guidance over an extended period. The ninth EFF review for Pakistan is of particular significance as it will determine the release of the next tranche of funding.

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