ISLAMABAD: The newly sworn-in Finance Minister Mohammad Aurangzeb confirmed on Tuesday that
talks with the International Monetary Fund (IMF) under the 3 billion dollar Stand-By Arrangement (SBA) are likely to commence this week with the government sending a formal request to the lending agency to cushion Pakistan’s dwindling economy.
Pakistan would dispatch an email to the agency’s headquarters in Washington DC to send its review team to Islamabad for the negotiations and release of the last tranche worth 1.1 billion dollars, according to media reports.
New IMF Package
Shehbaz Sharif-led government might also request to start talks for a fresh medium-term bailout package for 6 billion dollars in Extended Fund Facility with a strong chance to increase it with climate financing of 1.5 to 2 billion dollars more to secure additional financing from the IMF compared to the allocated quota for the country.
Earlier, on the occasion of taking oath as minister, Aurangzeb resolved to devote all his energies towards solving the economic and financial problems currently faced by Pakistan.
When asked to comment on the IMF programme, the minister was reluctant to reply and said he would require briefings before commenting on the subject.
