ISLAMABAD: Pakistan and the International Monetary Fund (IMF) on Monday began talks for the second review of the USD7 billion Extended Fund Facility (EFF) programme and the first review of the Resilience and Sustainability Facility (RSF), with discussions centering on fiscal performance and governance reforms.
The Fund mission, led by Iva Petrova, Pakistan’s Mission Chief at the IMF, held a meeting with Pakistan’s economic team led by Finance Minister Muhammad Aurangzeb at the Ministry of Finance here on Monday.
The meeting was also attended by Finance Secretary Imdadullah Bosal, State Bank Governor Jameel Ahmed, Federal Board of Revenue Chairman Rashid Mahmood Langrial, and other senior officials.
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Official sources said talks focused on Pakistan’s recent economic performance, revenue collection, spending discipline, and progress on structural reforms. The government also updated the IMF on the National Fiscal Pact, capital market reforms and transparency in development spending.
The IMF team reportedly sought updates on the Governance and Corruption Risk Assessment Report, anti-money laundering enforcement, and transparency measures.
The ongoing technical discussions will be followed by policy-level talks. If the review concludes successfully, Pakistan will unlock about USD1 billion in financing following the IMF Board approval, in addition to financing under RSF.
The International Monetary Fund will hold crucial meetings with Pakistan’s Ministry of Finance on Tuesday (Sept 30), to discuss governance reforms and financial sector oversight.
The first session will focus on updates regarding the e-PADS procurement system, including coverage, statistics, external audit reviews, and exchanges of information with oversight bodies.
Further discussions will address anti-money laundering coordination, particularly prioritization of risks emerging from trade-based money laundering, which remains a persistent vulnerability in Pakistan’s financial system. The IMF will also conduct a detailed review of risk-based supervision, analyzing trade-linked laundering channels and their broader impact on the country’s economic stability.
A final session will cover the beneficial ownership registry, alongside supervision of designated non-financial businesses and professions, aimed at strengthening Pakistan’s compliance with international standards. Three provinces Sindh, KP and Balochistan attended today’smeeting. Punjab will participate Tuesday (today). Flooding issue was also discussed. Balochistan has no loss.
Copyright Business Recorder, 2025
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