ISLAMABAD: The International Monetary Fund (IMF) is still looking forward to obtaining the ‘’necessary’’ financing assurances as soon as possible to pave the way for the successful completion of the 9th review of the Extended Fund Facility (EFF) programme.
This was confirmed by Nathan Porter, IMF Mission Chief to Pakistan in a statement issued early Saturday.
He stated, “We welcome the recent announcement of important financial support to Pakistan from key bilateral partners. During the meetings between the Pakistani delegation and the IMF staff and management, there was agreement on the need to maintain strong policies and secure sufficient financing to support the authorities’ implementation efforts. The IMF is supporting these efforts and looks forward to obtaining the necessary financing assurances as soon as possible to pave the way for the successful completion of the 9th EFF review.”
IMF wants more 'necessary funding assurances' for successful completion of Pakistan's 9th review
Finance Minister Ishaq Dar on Friday stated that the UAE authorities have confirmed to IMF for their bilateral support of $1 billion to Pakistan.
“The State Bank of Pakistan (SBP) is now engaged for needful documentation for taking the said deposit from the UAE authorities,” he added.
In another tweet, he stated, “Out of Chinese Bank’s ICBC approved facility of $1.3 billion (which was earlier repaid by Pakistan). The State Bank of Pakistan (SBP) would receive back third and last disbursement today in its account amounting to $300 million”.
This will “shore up forex reserves of Pakistan,” he added.
Copyright Business Recorder, 2023
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