Pakistan and an International Monetary financial (IMF) mission have made major strides toward an agreement at the staff level for an extended financial facility, the global lender announced on Friday.
After Islamabad last month concluded a short-term $3 billion program that helped prevent a sovereign debt default, the IMF has begun talks with Pakistan on a new loan program.
An IMF team led by mission chief Nathan Porter concluded talks with the government on Thursday, the lender said in a statement, having arrived in Pakistan on May 13.
“The mission and the authorities will continue policy discussions virtually over the coming days aiming to finalise discussions, including the financial support needed to underpin the authorities’ reform efforts from the IMF and Pakistan’s bilateral and multilateral partners,”
