Government expresses resolve to complete IMF programme

Prime Minister Shehbaz Sharif on Wednesday expressed the coalition government’s resolve to complete the current $7bn Extended Fund Facility programme with the International Monetary Fund (IMF). Pakistan entered a $6bn IMF programme in 2019, which was increased to $7bn earlier this year. The programme’s ninth review is currently pending with remote talks being held between IMF officials and the government for the release of $1.18bn. Earlier today, IMF Resident Representative for Pakistan Esther Perez Ruiz told Dawn.com that discussions between Islamabad and the international moneylender on the ninth review had been “productive” so far. Addressing a high-level meeting in the Prime Minster’s House regarding the overall economic situation today, the premier reaffirmed the commitment towards completing the IMF programme. “The ninth review of the IMF was discussed while various measures to control the current account deficit were discussed. Reiterating his determination to complete the IMF programme, the prime minister directed all concerned authorities to take necessary steps to control the fiscal and current account deficit,” a press release issued by the information ministry stated.