IMF mission arrives in Pakistan to review country’s performance

10/28/2019

The International Monetary Fund (IMF) has sent its mission to review and evaluate Pakistan’s performance on implementation of its 39-month-long extended fund facility (EFF) worth $6 billion to the debt-ridden country as it hopes to secure the next tranche of approximately $460 million.
The IMF mission will review Pakistan’s performance against six performance criteria related to Net International Reserves (NIR), Net Domestic Assets (NDA), net foreign currency swap position, primary budget deficit target, net government borrowing from the central bank and stock of sovereign guarantees issued by the government.
The IMF will hold meetings with Federal Bureau of Revenue (FBR) Chairman Shabbar Zaidi and Adviser to the Prime Minister on Finance Abdul Hafeez Shaikh.
After staying for two weeks, the IMF staff in case of striking staff level agreement will circulate its staff report among the board members and later the IMF’s executive board will take decision on release of second tranche. According to the signed agreement in July this year, Pakistan will get $2 billion annually, under the EFF, for the period of three years.