IMF delegation to hold talks with Pakistan on Monday for third tranche of loan

A delegation of the International Monetary Fund (IMF) will hold talks with the Pakistani leadership tomorrow (Monday, February 3) on the release of the third tranche of its loan to Pakistan. 

The IMF delegation will arrive in Pakistan on February 3 and hold talks with the government till February 13, confirmed Teresa Daban, the Resident Representative of the IMF for Pakistan. 

Read more: IMF disburses $454m tranche to Pakistan

Daban also confirmed that the review delegation will issue its report at the conclusion of its visit to Pakistan. Sources said the IMF delegation will conduct a quarterly review of Pakistan's economy.

The mission will review performance of different ministries and departments. The energy and tax reforms will also come under review. 

IMF says Pakistan’s ‘reform programme on track’, approves $452m second tranche

In December 2019, the money lending institute said Pakistan’s programme was on track and had started to bear fruit, but warned that risks remain. The statement from the IMF came after it approved second tranche of $452 million under the $6 billion Extended Fund Facility (EFF) for Pakistan. 

The IMF Executive Board on July 3 had approved a three-year bailout package worth $6 billion to Pakistan. Soon after the agreement was signed, Pakistan had received the first tranche of loan of $991.4 million from the fund.

Following the Executive Board’s decision, First Deputy Managing Director and Acting Chair David Lipton, in a statement, said that the country’s EFF programme was on track and had started to bear fruit, but warned that risks remain.

Lipton also called for strong ownership and steadfast reform implementation which he termed were “critical to entrench macroeconomic stability and support robust and balanced growth”.