ISLAMABAD: Amid rumours of suspension of the International Monetary Fund (IMF) Extended Fund Facility (EFF) programme, the government of Pakistan has shared some of the details of the fiscal year 2023-24 budget with the Fund. This was confirmed by Esther Perez Ruiz, Resident Representative of IMF in Pakistan, while responding to Business Recorder questions.

She stated that IMF staff looks forward to furthering the discussions to identify spending and revenue measures that can strengthen debt sustainability prospects while increasing social spending.

Pakistan to share budget details with IMF to unlock funds: finance minister

She stated: “Some details of the fiscal year 2024 budget have been shared with IMF over the past week, and we have engaged in discussions around this information and the government’s budget plans.

“IMF staff looks forward to furthering the discussions to identify spending and revenue measures that can strengthen debt sustainability prospects while increasing social spending further to defray the impact of the ongoing inflationary pressures on the most vulnerable.

“IMF staff continues the engagement with the Pakistani authorities to pave the way for a Board meeting before the current program expires at end-June, focused on the restoration of foreign exchange (FX) proper market functioning, the passage of a fiscal year 2024 budget consistent with program goals, and adequate financing,” the Fund added.

Copyright Business Recorder, 2023