Pakistan likely to sign staff-level agreement with IMF next week

ISLAMABAD: Pakistan is likely to sign a staff-level agreement with the International Monetary Fund (IMF) next week, as the fund is satisfied with Islamabad’s efforts to meet the commitments for the revival of the stalled loan programme, ARY News reported, citing sources. 

The sources privy to the development have declared the development as a positive sign for the revival of the stalled loan programme after the 9th review as the IMF has appreciated Islamabad’s efforts.

Furthermore, the IMF is seen as confident with the commitments of the State Bank Governor Jameel Ahmed. The international lender has given the signal for the staff-level agreement with Pakistan, which is likely to be signed next week.

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It may be noted that the IMF was assured of the targets set in MEFP four times and the last condition of betterment in the foreign reserves was met with the rollover of Chinese loan, the sources said.

The sources further added that the positive signs from the IMF have minimized the risk of Pakistan’s default.

Prior to the development, the agreement was expected to be signed on February 9 and later the finance minister Ishaq Dar claimed the signing of the agreement on February 14.

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