There has been significant progress in the virtual talks between Pakistan and the International Monetary Fund (IMF). Sources now claim that the IMF has given a 'green signal' for the staff-level agreement this week, expressing satisfaction over the steps taken by Pakistan. A deal is likely to be reached soon, according to Express News.
Sources at Pakistan's finance ministry said that there was 'positive progress' in the virtual talks between Pakistan and the IMF, after Pakistan fulfilled the conditions of the IMF's advance measures. The sources said that the IMF expressed satisfaction over the advance measures. This would lay the groundwork for a staff-level agreement likely this week.
Due to the improvement of foreign exchange reserves, sources say that the last precondition of the IMF has also been fulfilled. This was possible due to the rollover of China's $1.3 billion loan, which have bolstered Pakistan's foreign exchange reserves. Sources are hopeful that the financial packages announced for Pakistan by other allies will likely be 'implemented soon'.
After signing a staff-level agreement with the IMF, Pakistan's case will be presented in the IMF executive board meeting which would approve the ninth economic review and issue the next installment of $1.1 billion for Pakistan. After the approval of the economic review, the IMF program will also be 'on track' to ensure timely release of the next installment to Pakistan.
Sources at Pakistan's finance ministry said that there was 'positive progress' in the virtual talks between Pakistan and the IMF, after Pakistan fulfilled the conditions of the IMF's advance measures. The sources said that the IMF expressed satisfaction over the advance measures. This would lay the groundwork for a staff-level agreement likely this week.
Due to the improvement of foreign exchange reserves, sources say that the last precondition of the IMF has also been fulfilled. This was possible due to the rollover of China's $1.3 billion loan, which have bolstered Pakistan's foreign exchange reserves. Sources are hopeful that the financial packages announced for Pakistan by other allies will likely be 'implemented soon'.
After signing a staff-level agreement with the IMF, Pakistan's case will be presented in the IMF executive board meeting which would approve the ninth economic review and issue the next installment of $1.1 billion for Pakistan. After the approval of the economic review, the IMF program will also be 'on track' to ensure timely release of the next installment to Pakistan.