Ministry hopeful of completing IMF programme in September

Clarifying that the ongoing 7th review with the International Monetary Fund (IMF) team is going on as per schedule, the government has expressed its resolve to successfully complete the programme in September.

Responding to some media reports on Thursday, the Ministry of Finance in a statement on Thursday said that negotiations under the 7th review are continuing as planned and the two sides remain engaged on a regular basis at a technical level through virtual meetings and data sharing.

The focus of negotiations under the 7th review has been on the agreed targets between the two sides as well as the recently announced relief and industrial promotion packages.

“There is a consensus that all the end-December agreed targets have been achieved, while progress on other actions mentioned in the Memorandum on Economic and Financial Policies (MEFP) for the 6th review has also been found to be satisfactory,” the statement added.

On the relief package, complete details, including financing options, have been shared with the IMF and a general understanding has been developed, said the statement.

The IMF has, however, indicated the need for some further discussions on the industrial promotion package over the next few days. An understanding is expected to be developed on the said package subsequent to those discussions, claimed the ministry. Upon completion of the technical talks, the text of the Memorandum on Economic and Financial Policies (MEFP) for the 7th review will come under discussion.

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