IMF, Pakistan wrap up unscheduled talks on $7 bln bailout
The International Monetary Fund (IMF) said on Friday it held constructive talks with authorities in Pakistan on economic policy and reform efforts to reduce vulnerabilities during an unscheduled staff visit, Paralel.Az reports citing Reuters.
The unusual visit from Nov 12 to Nov 15 discussed a $7-billion bailout within six weeks of its approval by the IMF board, but came too early for the first review of the Extended Fund Facility (EFF), due in the first quarter of 2025.
"We are encouraged by the authorities' reaffirmed commitment to the economic reforms supported by the 2024 EFF," Nathan Porter, the chief of the IMF's Pakistan mission, who led the talks, said in a statement.
The constructive discussions on economic policy and reform efforts to reduce vulnerabilities would help to lay the basis for stronger and sustainable growth, he added.
The mission did not state the weaknesses, but sources in Pakistan's finance ministry have said some major lapses prompted the IMF to intervene.