Says Pakistan has met all requirements, no major issues left to address
KARACHI – Pakistan is looking to clinch a staff-level agreement on an International Monetary Fund bailout of more than $6 billion this month after addressing all of the lender's requirements in its annual budget, its junior finance minister told Reuters.
"We hope to culminate this process in the next three to four weeks," Minister of State for Finance, Revenue and Power Ali Pervaiz Malik said on Wednesday, with the aim of thrashing out a staff-level agreement before the IMF board recess. Malik said the point of pushing out a tough and unpopular budget was to use it a stepping stone for an IMF programme, adding the lender was satisfied with the revenue measures taken, based on their talks."There are no major issues left to address, now that all major prior actions have been met, the budget being one of them," Malik said."Obviously they are burdensome for the local economy but the IMF programme is all about stabilisation," Malik said.
"If it takes longer, then the central bank may be forced to temporarily re-instate import and capital controls," he said. "There will be a period of uncertainty, and one casualty is likely to be the rally in equities."
IMF Programme IMF Pakistan Trade Deficit Food Exports
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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