Pakistan, IMF begin policy-level talks for financial bailout

ISLAMABAD - Pakistan and the International Monetary Fund (IMF) will hold policy-level talks from today after the conclusion of technical discussions on the bailout package.

Harald Finger will lead the IMF delegation for discussions which would continue till November 20 while the Pakistani delegation will comprise secretary finance, chairman federal board of revenue (FBR) and State Bank of Pakistan (SBP) Governor Tariq Bajwa among other senior officials.

During the discussions, IMF will inspect Pakistan’s monetary and fiscal policies as well as its monetary needs in the backdrop of current account deficit.

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The international financial institution will also review SBP’s financial independence and FBR’s performance to see what corrective measures are needed in future.

Pakistan is expected to seek IMF loan up to $6 billion after it successfully secured assistance from Saudi Arabia and China as well; Pakistan had formally approached IMF in October for loans after Finance Minister Asad Umar met IMF chief Christine Lagarde.