The ninth assessment of the Extended Fund Facility (EFF) programme is still waiting, thus the International Monetary Fund (IMF) Executive Board announced meetings without Pakistan until June 29.
IMF Board meetings without Pakistan: Pakistan hardly has enough foreign exchange reserves to pay for imports for a month. The IMF has insisted on a number of criteria before it makes any more disbursements. It had intended to have $1.1 billion of the money delivered in November.
According to sources familiar with the situation, the IMF had to convene in order to disburse the $1.1 billion tranche as part of the EFF program’s 9th review, which expires on June 30.
The meeting for the release of the tranche to Pakistan can be called at any time, according to Pakistani authorities, who are confident that the fund would finish the ninth review before the deadline.
It is important to remember that Prime Minister Shehbaz Sharif asked for the early conclusion of the 9th review during his telephone conversation with the IMF president. The purpose of this request was to facilitate the release of the loan.
The International Monetary Fund (IMF) voiced its displeasure with Pakistan’s most recent budget presentation last week.
Ongoing policy discussions with Pakistan. Esther Perez Ruiz, the resident representative of the International Monetary Fund for Pakistan, claimed that the draught FY24 Budget’misses’ a chance to enlarge the revenue base in a more progressive manner.
Esther Perez Ruiz went on to say that the extensive list of additional tax expenditures undermines the resources required for the Benazir Income Support Program’s needy recipients and further lessens the tax system’s fairness.