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IMF mission arrives in Islamabad to discuss ninth review

ISLAMABAD: An IMF mission has arrived in Islamabad to discuss the postponed ninth review of $7 billion Extended Fund Facility (EFF).

According to reports, an International Monetary Fund (IMF) mission has arrived in Islamabad, and discussions on the ninth review of the bailout programme will begin today (Tuesday).

According to sources, Pakistan and the Fund will have technical talks for the first four days, during which economic data from various departments will be analyzed.

Pakistan received a $6 billion IMF bailout in 2019, which was increased by $1 billion last year, but disbursements were halted in November due to Pakistan’s failure to make greater progress on fiscal reduction and economic reforms.

However, Prime Minister (PM) Shehbaz Sharif has stated that the coalition administration wants to conclude the ninth review as soon as possible, and he has informed the IMF’s chief executive of Pakistan’s willingness.

He made the statement when introducing the ‘Youth Business and Agricultural Loan Scheme’ today.

“I have informed IMF’s chief executive that Pakistan is eager to conclude the ongoing evaluation and integrate the requirements highlighted by it,” he added.

“At the request of the authorities, an in-person Fund mission is set to visit Islamabad [from] January 31 – February 9 to continue the discussions under the ninth EFF review,” said IMF Resident Representative for Pakistan Esther Perez Ruiz in a statement.

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