IMF keeps Pakistan guessing
Business
The Ministry of Finance and the international donor mission hold virtual meeting
ISLAMABAD (Dunya News) - Pakistan has not received any deadline for external financing approval from the International Monetary Fund (IMF) Executive Board.
The Ministry of Finance and the international donor mission held a virtual meeting to hash out the external financing details.
Sources said the Federal Board of Revenue (FBR) officials also joined the meeting and explained the revenue shortfall. Ministry officials apprised the IMF mission of the measures related to external financing.
They also discussed rolling over of loans and securing new financing arrangements from friendly countries.
The ministry officials gave a timeline for rolling over loans from friendly countries until next week.
Sources mentioned that the IMF had demanded that the $12 billion loan rollover must be completed before seeking approval from its Executive Board. The IMF mission has also stressed the need to make up the revenue shortfall this month.
Besides, the IMF mission said the FBR officials would come up with a plan to meet the revenue targets if they failed to tackle the shortfall.
