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Constructive talks with IMF: PKR sees strong recovery

Constructive talks with IMF: PKR sees strong recovery

Business

The dollar was being quoted at 186.90.

KARACHI (Dunya News) - The constructive talks with the International Monetary Fund (IMF) have played a positive role as Pakistani Rupee (PKR) has appreciated by 70 paisa against US Dollar (USD) on Monday in the interbank market.

The dollar closed Rs186.05 when compared to the previous close of Rs186.75.

Based on the constructive discussions with the delegation led by Finance Minister Miftah Ismail in Washington, the IMF mission will visit Pakistan in May to resume discussions over policies for completing the 7th Extended Fund Facility (EFF) review.

“We agreed that prompt action is needed to reverse the unfunded subsidies which have slowed discussions for the 7th review”, Mr. Nathan Porter, IMF Mission Chief for Pakistan, stated in a press release.