ISLAMABAD: Pakistan is expected to sign a staff-level agreement with the International Monetary Fund (IMF) next week, as the fund is pleased with Islamabad’s efforts to meet commitments for the resumption of the stalled loan programme.
According to sources close to the development, the development is a positive sign for the revival of the stalled loan programme following the 9th review, as the IMF has praised Islamabad’s efforts.
Furthermore, the IMF is seen as confident in State Bank Governor Jameel Ahmed’s commitments. The international lender has given the green light for a personnel agreement with Pakistan, which is expected to be signed next week.
It should be noted that the IMF was assured of the MEFP targets four times, and the last condition of improving foreign reserves was met with the rollover of a Chinese loan, according to the sources.
According to the sources, the positive signs from the IMF have reduced the risk of Pakistan defaulting.
Prior to the development, the agreement was expected to be signed on February 9, but finance minister Ishaq Dar later claimed that it was signed on February 14.