F.P. Report
ISLAMABAD: Pakistan is optimistic about the successful completion of the first International Monetary Fund (IMF) review of the $3 billion standby arrangement (SBA) as the negotiations between the two sides have entered the final round, said well-placed sources.
The policy-level talks between the IMF and Pakistani authorities began today (Monday) and will continue till November 15, the sources added. The Pakistani delegation was led by Interim Finance Minister Shamshad Akhtar and comprised State Bank of Pakistan Governor Jameel Ahmad, Federal Board of Revenue Chairman Malik Amjed Zubair Tiwan, and officials from the finance and energy ministries. Nathan Porter was heading the IMF team during the negotiation.
Finance ministry sources said that the IMF delegation presented their recommendations and demands during today’s session. In the technical-level talks, economic data was shared with the team of the international lender. The sources privy to the matter claimed that Pakistan has completed all the conditions of the IMF.
The staff-level agreement will be finalised during the ongoing policy-level talks, the sources said, adding that after the successful completion of the first review, around $700 million will be released to Pakistan.
