‘Pakistan’s Performance On Track’, IMF Says Ahead Of 19th December Meeting

The IMF expressed satisfaction over the country’s economic performance, as the government has significantly narrowed trade and fiscal deficits.

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The International Monetary Fund (IMF) has stated that Pakistan has met all prior actions and performance criteria as under the $6 billion program.

To contemplate the staff level report and approval of the second tranche of about $450 million under the $6 billion Extended Fund Facility (EFF), the IMF Executive Board and the Pakistani authorities will meet on December 19.

Gerry Rice Communications Department Director said, “The IMF has a $6 billion program to support Pakistan’s economic reforms. We had a mission there in November for a preliminary assessment of where we think Pakistan stands. The program is on track and we reached a staff-level agreement on what we call the first review.”

Rice further quoted, “What that indicates is that all prior actions and performance criteria under the program with Pakistan have been met and that the financing assurances needed for the program to go forward are in place.”

The IMF expressed satisfaction over the country’s economic performance, as the government has significantly narrowed trade and fiscal deficits.

During a visit to Islamabad between Oct. 28 and Nov. 8, the IMF completed the first quarterly review of the program and submitted it to the board of directors for a final nod before releasing the second tranche.

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