ISLAMABAD: As Pakistan eyes a bigger and longer bailout package to stabilize its economy, talks have started between the International Monetary Fund (IMF) and Pakistan today on not only Extended Fund Facility (EFF) but also climate financing, local media reported. The two sides have agreed on the important targets set for the next budget, sources say.
The IMF is represented by by Nathan Porter – the IMF’s Mission Chief to Pakistan – a process that is likely to take two weeks, as the team arrived in the finance ministry for an introductory session.
Pakistan’s Finance Minister Muhammad Aurangzeb and other economic team members are briefing the IMF mission on current situation, including the previous terms and meeting the term and conditions set by the IMF previously.
Meanwhile, the International Monetary Fund (IMF) has agreed to the suggestion concerning extending targeted subsidies to the low-income people which are worst affected by the recent inflation.
By the time the talks are over, Pakistan’s government will table next fiscal year budget for 2024-25 early next month.
