Panel to pick IMF senior adviser

Three joint secretaries shortlisted for Washington-based post

ISLAMABAD:

The government has constituted a ministerial committee to finalise its nominee for the appointment to the coveted post of senior adviser to the executive director of the International Monetary Fund (IMF), which will pick a name out of three candidates recommended by the finance ministry.

The Prime Minister's Office has set up the committee to interview the three candidates that have been recommended by the finance ministry to fill the position of the senior adviser to the executive director of the IMF Board, said ministry officials.

All three nominations for the Washington-based post are serving in the Ministry of Finance for a considerable time.

Sources told The Express Tribune that the finance ministry has nominated Maryum Kayani, joint secretary budget, who has also served in the external finance wing. The other two candidates are Moazam Raza, joint secretary in external finance dealing with the IMF, and Nadeem Ahsan, joint secretary dealing with other foreign lenders.

A senior ministry official said the competent authority would pick the candidate based on interviews conducted by the ministerial committee. The interview process is expected to begin this month.

The sources said the finance ministry had given priority to Kayani, but the Prime Minister's Office instead referred the matter to the ministerial committee for picking the best candidate.

The post of senior adviser demands a strong set of skills, which includes knowledge of global economic issues and a deep understanding of the way the IMF works.

Pakistan's current senior adviser to the IMF, Saifullah Dogar, has completed his three-year term and is returning. The finance ministry had earlier proposed an extension in Dogar's tenure, which the government did not endorse.

Dealing with Pak-IMF relations is just a very small part of the senior advisor's job description.

The senior adviser also assists the IMF executive director, who represents eight countries at the IMF executive board. In addition, the senior adviser is required to assist the executive director in dealing with financing requests from member countries, submit Article-IV reports of the members and handle policy papers.

The sources said the appointment process is expected to be completed before the fourth review talks, which are expected to begin around September 21. During the fourth review, the IMF staff would also undertake the Article-IV assessment of Pakistan's economy.

The Article-IV assessment will go deeper and beyond tracking the implementation of the $7 billion bailout package.

The Article-IV report is expected to carry significant importance, as it will also assess the country's debt viability in the medium term, particularly after the expiry of the current arrangement in September next year.

During the last review, the IMF assessed Pakistan's gross external financing requirements for this fiscal year at $21 billion, but it has shown a 42% increase for fiscal year 2027-28. For the next fiscal year, the IMF's assessment of Pakistan's gross external financing requirements stands at $30 billion.

During a meeting held at the PM's House last month, the finance ministry assured the prime minister that there was no financing gap and that the needs are fully reflected and covered for the current fiscal year.

The government will also soon start a process to appoint an adviser to the Asian Development Bank in Manila. The ADB adviser position will be filled for a period of five years and is rotated between Pakistan and the Philippines. The government has recently appointed Nasheeta Mohsin, special secretary finance, as Pakistan's new executive director in the ADB.