ISLAMABAD: The International Monetary Fund (IMF) review mission will visit Pakistan once new governments have been constituted in the centre and provinces, which might take two to five weeks following the February 8 general elections.
The IMF delegation’s visit is critical for the fulfillment of the $3 billion Standby Arrangement (SBA), which is set to expire on April 12. Following that, to avoid a default on foreign debt repayment, the mission will finalize the key aspects of the projected medium-term bailout package.
In a recent staff study, the IMF discussed moving the second review date to March 15, 2024, to allow enough time to achieve the programme’s structural agenda.
However, in light of the ongoing controversy surrounding the poll results, the mission’s potential delay in completing the second evaluation and releasing the final tranche worth $1.2 billion under SBA may raise concerns about an economic default. The country’s foreign exchange reserves hovered around $8.04 billion in the week ending February 2, 2024, after declining by $173 million due to external debt repayment.
On Sunday, a Finance Division official confirmed to The News that the IMF would only visit to begin the second round of review negotiations after the national government was formed.
According to the Ministry of Finance’s assessment, the IMF’s review delegation may visit Islamabad by its conclusion
