The International Monetary Fund (IMF) continues to liaise with Pakistani officials, aiming to schedule a board meeting before a financial aid program concludes at the end of June, according to the IMF mission chief for Pakistan.
Typically, a board meeting discussing a program review necessitates a staff-level agreement beforehand. For Pakistan, such an agreement would release $1.1 billion in aid, a part of the larger $6.5 billion IMF package, to help alleviate the country’s financial strain.
The staff-level agreement has been pending since November, marking over 100 days since the last mission to Pakistan – the most extended delay since at least 2008.
“Our engagement will primarily concentrate on reestablishing proper market functioning of foreign exchange, approving a FY24 budget that aligns with program objectives, and ensuring sufficient financing,” stated IMF mission chief Nathan Porter.
Finance Minister Ishaq Dar announced on Sunday that Pakistan would disclose its budget details to the IMF. He expressed his desire for the IMF to pass its 9th review before presenting the budget, expected in early June, as all the prerequisites have already been fulfilled.
“We are prepared to provide any additional information they need. They request budget details, and we will provide them,” Dar stated in a Geo TV interview. He also affirmed that combining the 9th and 10th reviews of the bailout would not favor Pakistan, adding, “We will not comply, as we view this as unfair.”
Porter underlined that “tackling the current economic and financial difficulties would necessitate consistent policy initiatives and reforms for Pakistan to regain robust and inclusive private-led growth.”
Although the IMF refrains from commenting on domestic politics, Porter expressed hopes for “a peaceful resolution to be reached in accordance with the Constitution and the rule of law,” referencing Pakistan’s political volatility.
 is negotiating with Pakistan's officials to set a board meeting prior to the end of a financial aid program in June. The aim is to release $1.1 billion in aid as part of a larger $6.5 billion IMF package to alleviate the country's economic strain.){kind=link}