IMF ninth review: Meeting due to approve release of $502m

WASHINGTON: The Executive Board of the International Monetary Fund (IMF) is due to meet on December 18 to discuss the ninth review under the Extended Fund Facility arrangement with Pakistan and is expected to approve the release of $502 million loan tranche.  Pakistan achieved the staff-level agreement with the IMF officials following talks between the IMF officials and the Pakistani delegation led by Finance Minister Ishaq Dar held in Dubai between October 28 and November 5.  The meeting concluded with a staff-level agreement as the head of the IMF delegation, Harald Finger, described the discussions on the 9th review as productive. A statement issued after the meeting praised the commitment of the Pakistan’s government to economic reforms and said it has significantly reduced near-term risks to the economy.  However, the slowdown in private credit growth and weakness in exports and imports were weighing on growth prospects.

Published in The Express Tribune, December 11^th,  2015.

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