IMF mission to arrive on Nov 7

WASHINGTON: The International Monetary Fund (IMF) said on Thursday that it was sending a mission to Islamabad on November 7 to launch financing talks.

Pakistan had formally requested an IMF bailout programme during the fund's annual meetings in Indonesia in October.

The talks are aimed at reaching a staff-level agreement, which would be submitted to the IMF's executive board for consideration, IMF spokesman Gerry Rice said.

He did not offer a timetable for reaching such a staff-level agreement with Pakistan.

Meanwhile, the IMF said Iran should implement policies to safeguard its macroeconomic stability in the face of reimposed US sanctions that will cut Iranian economic growth by reducing oil exports.

Rice also told a regular media briefing that the fund was urging Iran to strengthen its anti-money laundering and anti-terrorism financing frameworks to comply with international standards by a deadline in February 2019.

"The reimposition of US sanctions will reduce economic growth by restricting Iran's oil exports and Iran should implement policies to safeguard macrostability," Rice said, particularly "the most vulnerable groups." Reuters