IMF links revival of Pakistan’s stalled loan programme with completion of all conditions in three weeks

ISLAMABAD – International Monetary Fund has linked the revival of stalled loan programme of cash strapped country with the completion of all prerequisites in three weeks.

Reports in local media said the global lender told Islamabad to take essential actions within three weeks for the revival of staff-level agreement and release $1 billion tranche under the Extended Fund Facility (EFF).

After getting new directives, the country’s finance chief Ishaq Dar will hold a meeting with his economic team to chalk out a strategy to pave the way for the revival of the much need programme.

The new prerequisite tabled by the global lender includes additional taxation measures and pursuing structural reforms in the remaining period of the Fund program, per reports.

The two sides had engaged in several talks but could not finalise the ninth review of loan programme amid a lack of clarity on flood-related financial requirements.

IMF looking forward to continue dialogue on ninth review after 'productive talks’ with Pakistan

Amid the uncertainty and delay in the IMF programme, the ongoing financial crisis is almost unprecedented in its nature.