ISLAMABAD: The ongoing discussions between the International Monetary Fund (IMF) and Pakistani authorities over the second review of the $7 billion Extended Fund Facility (EFF) and the first review of the Resilience and Sustainability Facility (RSF) remain inconclusive, official sources revealed.
The IMF mission, led by Iva Petrova, Pakistan’s IMF Mission Chief, began negotiations with government officials on September 25. The talks, which lasted until October 8, have yet to produce a staff-level agreement, despite progress in several areas.
As of now, neither the Pakistani government nor the IMF has issued any formal statement regarding the status of the negotiations.
Sources indicated that the IMF has shared a draft Memorandum of Economic and Financial Policies (MEFP) with the Ministry of Finance. Finance Minister Muhammad Aurangzeb stated that once the MEFP is signed, a staff-level agreement will be finalized between Pakistan and the IMF.
The finance minister emphasized that Pakistan has met all targets set by the IMF under the ongoing program and described the talks as “on track.” Speaking informally to the media, he noted that consensus had been reached on most major targets, reaffirming Pakistan’s commitment to fulfilling its obligations under the IMF agreements.
The talks, initially scheduled to conclude on Wednesday, continue amid high expectations that an agreement will soon be reached to support Pakistan’s economic reforms and financial stability.
