IMF Mission Chief meets Finance Minister

ISLAMABAD:Finance Minister of Pakistan Asad Umar, met the IMF Mission Chief Ernesto Ramirez Rigo on Tuesday and gave him a briefing on all issues including fiscal, monetary, structural and energy sector reforms hoping a bailout deal in the next six weeks.[the_ad id=”31605″]Pakistan has not budged from its position on all sticking points over the past four months and it is the International Monetary Fund (IMF) that has shifted its stance, Asad Umar had said a day earlier expressing hope that a bailout deal was in sight now.

PTI government is expecting finalisation of a bailout package with the International Monetary Fund (IMF) in four-six weeks to form the basis for next year budget.

IMF’s new mission chief for Pakistan Ernesto Ramirez Rigo met with Finance Minister Asad Umar and senior officials of his ministry over authorities’ preparedness to enter into a three-year programme.

Assisted by IMF’s country representative Maria Teresa Daban, Mr Rigo will also visit Karachi the following day for interactions at the State Bank of Pakistan (SBP).

During the two-day discussions, both sides are expected to set dates to field a formal mission by the middle of next month to finalise a reform package.

Minister briefed Ramirez Rigo about the steps taken by the government for improving the economy of the country.

He informed that the structural reforms and other economic initiatives introduced by the government were yielding desired results.

Minister said that the government would continue to address the macroeconomic imbalances and would take necessary corrective measures in this regard.

Before the mission chief’s visit, a team of IMF’s representative office in Islamabad had been engaged with finance ministry’s authorities for the last couple of days on actionable issues.

The two sides are of the shared opinion that most of the policy initiatives should become part of the coming budget to sail through the parliamentary approval as part of the money bill 2019-20 for implementation at the start of the next fiscal year.

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