To hear good news from IMF soon, says Dr Reza Baqir

State Bank of Pakistan (SBP) Governor Dr Reza Baqir has said that the public will hear good news soon regarding the agreement with the International Monetary Fund (IMF), a statement that comes just after another IMF official said talks between the two were moving in a "progressive manner".

On Tuesday, Jihad Azour, Director, Middle East, and Central Asia Department, while talking on the official IMF YouTube channel, said talks with Pakistan have progressed, and the IMF mission is reviewing various details.

“The IMF mission to Pakistan and the authorities are currently in the process of the discussion around the sixth review of the programme, and discussions are progressing around the various pillars and the measures that the Government of Pakistan is currently contemplating,” said Azour.

“The progress has gone in a very good step and the mission is going through the various details,” he added.

Azour's statements follow that of Pakistan's ministry of finance that refuted media reports regarding IMF talks ending inconclusively. The ministry said talks were ongoing, and a final decision would be announced in the coming days.

Meanwhile, Dr Baqir, while talking to the media in a seminar for overseas Pakistanis in London, said negotiations with the international lender are moving in a positive direction.

Dr Baqir, an ex-IMF official, added that Pakistan's economic reforms are expected to yield good results in the future.

Pakistan and the IMF are currently in negotiations for the resumption of a $6-billion Extended Fund Facility (EFF).

Contingent on successful negotiations, the IMF would release a $1-billion tranche to Pakistan.

Earlier, newly-appointed Finance Ministry spokesperson Muzammil Aslam had said in a tweet that talks with the IMF are under way.

Talks with IMF in the right direction: Tarin

Shaukat Tarin, who was also recently given the charge of PM's advisor on finance and revenue, also dismissed reports that talks had failed, asserting that they were headed in a positive direction.

“The talks are continuing,” Tarin told reporters after addressing members of the Pakistani community in New York on Sunday night.

The IMF programme is crucial for Pakistan that struggles with its balance-of-payments situation. Its widening current account deficit has already put severe strain on the currency, which has shed nearly 12% in the last five months.