IMF terms discussions on 9th review productive

December 14, 2022 (MLN): The discussions between the International Monetary Fund (IMF) and the government to date in the context of the 9th review of Pakistan's Extended Arrangement under the Extended Fund Facility (EFF) have been productive, Esther Pérez Ruiz, IMF Resident Representative in Pakistan said in a statement issued on Tuesday.

Discussions have enabled a revision to the macroeconomic outlook post floods as well as an in-depth evaluation of fiscal, monetary, exchange rate, and energy policies adopted since the completion of the combined seventh and eighth reviews, she added.

“The IMF looks forward to continuing the dialogue over policies that adequately address the humanitarian and rehabilitation needs from the floods while also preserving fiscal and external sustainability given available financing,” she noted.

It is pertinent to mention that The IMF’s 9th review for the release of the next tranche has been pending since September 2022.

Since the country’s foreign exchange reserves are melting away, there is a dire need for external financing and prolonged delays would create more chaos in the market.

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