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ISLAMABAD: The Inter-national Monetary Fund (IMF) and Pakistani authorities remain closely engaged to bring the second review of the Extended Fund Facility (EFF) to a positive conclusion, while taking into account the new conditions the Fund is facing in Pakistan, and to ensure the programme delivers on its objectives.

This was stated by Gerry Rice, Director Communication Department IMF during a media briefing.

Replying to a question about the status of the ongoing technical discussion with Pakistan, Rice said that they are closely engaged in these discussions.

Rice stated, "On the EFF, which was already in place with Pakistan, I can tell you that technical discussions with the authorities continue. They remain fluid with a view to bringing that second review of that program, that EFF, to a positive conclusion, as soon as possible. We're working with the authorities, constructively, to ensure that that can be brought to a positive conclusion, as soon as possible, while taking into account the new conditions that we're facing in Pakistan, and to ensure the program delivers on its objectives." The official further stated that the IMF already provided emergency financing to Pakistan in the context of the COVID-19 crisis, and that was in the amount of about $1.4 billion, approved by the IMF Board in April.

Copyright Business Recorder, 2020