Staff level agreement between Pakistan, IMF likely this week

staff level agreement

ISLAMABAD: There has been significant progress in the virtual talks between Pakistan and the IMF, source said, adding that the IMF has given a green signal for the staff-level agreement with Pakistan. The sources claimed that the IMF has expressed satisfaction with the steps taken by Pakistan.
The Finance Ministry sources said that there has been positive progress in the virtual talks between Pakistan and the IMF after Pakistan has fulfilled the preconditions of the IMF. The IMF has expressed satisfaction over the pre-accord steps. The sources said that the staff-level agreement is likely to be signed this week.
The source added that that Pakistan’s foreign exchange reserves have improved due to the rollover of the Chinese load and packages of other friendly countries, which was the last precondition of the IMF.
The sources maintained that after signing a staff-level agreement with the IMF, the matter will be presented in the meeting of the IMF Executive Board for the approval of the ninth economic review and the next installment of one billion ten million dollars for Pakistan. After the approval, the IMF program will also be on track with the release of the next installment to Pakistan.


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