MEFP implementation brings Pakistan, IMF close

More than $10b to be raised from friendly countries, international institutions

ISLAMABAD:

 

Pakistan has agreed to implement the Memorandum of Economic and Financial Policies (MEFP), which contains policy suggestions by International Monetary Fund (IMF) to be implemented by the member country.

Sources have revealed that the staff level agreement between the fund and the country is expected next week.

IMF has, according to sources, expressed satisfaction over the implementation of the recommendations of its review mission.

The monetary fund has been assured of the implementation at the highest level.
Finance department sources have revealed that increasing foreign reserves to meet the two-month import bill till June 30 has been agreed upon with the fund.

Pakistan will also have to arrange more than ten billion dollars from friendly countries and international institutions.

Sources claim that the friendly countries and international financial institutions will keep an eye on the ongoing loan program, which will end till June 2023 with IMF providing the remaining 2.5 billion dollars.