June 22, 2022 (MLN): Finance Minister Miftah Ismail expects that the International Monetary Fund would increase the funding amount and bailout duration.
The talks between the IMF staff mission and the Pakistani officials, led by Miftah Ismail had essentially locked budget and fiscal measures on Tuesday night, Reuters reported, adding that he did not anticipate any hiccups moving forward.
Meanwhile, IMF Resident Representative in Pakistan, Esther Perez Ruiz said, “Discussions between the IMF staff and the authorities on policies to strengthen macroeconomic stability in the coming year continue, and important progress has been made over the FY23 budget.”
“I am also expecting that the duration of the program will be extended by a year and the amount of loan will be augmented,” he said. However, he added that the IMF had not yet committed to the changes.