IMF delegation reach Pakistan to review quarterly progress

ISLAMABAD: Led by Mission Chief Ernesto Ramirez Rigo, a delegation of the International Monetary Fund (IMF) reached Pakistan to review the first quarterly progress.

To decide the approval of a tranche worth $460 million of the $6-billion three-year bailout package, the delegation will submit a progress report to the IMF that will be prepared from October 27 to November 7.

During their stay, IMF is set to conduct meetings with the representatives of the Ministry of Finance, power sector, Federal Board of Revenue (FBR), and the State Bank of Pakistan (SBP), and other key institutions.

For the approval of tranche, the government has met certain conditions regarding the current account deficit and the exchange rate.

The conditions set up by the IMF included a delegation visiting Islamabad after every three months to review the country’s economic indicators.

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