IMF team to assess flood spending later this month
As Pakistan grapples with devastating floods, a senior International Monetary Fund official confirmed an upcoming mission will evaluate if the country’s financial and emergency plans are adequate to handle the crisis, shortly after the finance minister signalled talks with the lender for relief. An IMF team is expected in Pakistan by the end of the month for a review mission, Federal Minister for Finance and Revenue Muhammad Aurangzeb said on Sunday, stressing that discussing flood-related financial needs with the IMF was a necessary step. “There is nothing wrong with asking the IMF about the relief, because we are in the fund programme,” Mr Aurangzeb said during a visit to flood-affected areas in Kamalia. “The IMF responded very responsibly and the prime minister announced the relief.” The minister’s comments came as damage assessments from the catastrophic floods, which have killed at least 972 people, are underway across the nation. “Damage assessments are currently under way, and these are very important — not only for our talks with the IMF but also with other financial organisations,” he said. While Pakistan plans a comprehensive discussion with the IMF, Aurangzeb noted that the cabinet has decided to first utilise the nation’s own resources to provide immediate aid to the millions affected.