IMF says Pakistan’s flood recovery plan crucial for continued financial support

ISLAMABAD – The International Monetary Fund said a quick finalization of plan to recover from the unprecedented floods is critical for South Asian countries to get continued financial support from bilateral partners.

The massive floods have pushed the country of more than 230 million to the brink as the masses face suffocating inflation.

Reuters quoting IMF resident representative Esther Perez said timely finalization of the recovery plan is crucial to support the discussions, along with continuing financial support.

The Resident Representative of global lender maintained that their staff has continued talks with the local authorities over policies to reprioritize and better target support toward humanitarian and rehabilitation needs, besides quickening reform efforts.

Washington-based lender and Finance Division have yet to approve the starting date for negotiations on the ninth review under the Extended Fund Facility (EFF) programme.

Earlier this month, the new finance minister Ishaq Dar interacted with the IMF mission chief for Pakistan, to exchange views on the impact of floods on the macroeconomic framework and targets for the current fiscal year.