ISLAMABAD: The Ministry of Finance Thursday dismissed reports regarding the failure of talks with the International Monetary Fund (IMF), saying the negotiations for seventh review of the $6 billion Extended Fund Facility program were still underway.
“Negotiations under the International Monetary Fund’s (IMF) seventh review are continuing as planned,” the statement said and added that the two sides remain engaged on a regular basis at a technical level through virtual meetings.
The government clarification comes after sections of the media recently reported that the ongoing negotiations between IMP and Pakistan under the global lender’s Extended Fund Facility (EFF) had failed.
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The IMF, however, indicated the need for some further discussions on the industrial promotion package over the next few days. An understanding is expected to be developed on the said package subsequent to those discussions, the finance ministry said in a statement.
“The Government is confident that the finalization of the MEFP would lead to IMF Board meeting towards the end of April. The Government remains committed to completing the IMF program successfully in September”, the statement added.
Pakistan and the IMF started negotiations on the ongoing seventh review of the $6 billion Extended Fund Facility program on March 4, 2022.
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It is pertinent to mention here that Pakistan last month received $1.053 billion tranche from the International Monetary Fund (IMF) following the successful completion of the 6th review under the Extended Fund Facility (EFF).
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