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2mo ago

IMF, Pakistan Near Staff-Level Deal as Talks Shift to Washington

Officials aim to close remaining technical gaps in Washington to secure roughly $1.2 billion in board-approved funding.

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The International Monetary Fund (IMF) had reportedly shared the draft Memorandum of Economic and Financial Policies (MEFP) with the authorities before a visiting mission left Pakistan after two weeks of engagements.
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Overview

  • An IMF mission ended its two-week review without a staff-level agreement, saying both sides made significant progress and will continue policy discussions.
  • Finance Minister Muhammad Aurangzeb will meet the IMF during the Oct. 13–18 annual meetings to finalize MEFP tables on external financing and balance of payments and to settle flood-loss verification.
  • Publication of the Governance and Corruption Diagnostic report and agreement on contingency tax measures remain outstanding items cited in local reporting.
  • Pakistan expects about $1.2 billion in combined disbursements from the EFF and RSF next month, contingent on an eventual staff deal and IMF Executive Board approval.
  • The Pakistan Stock Exchange jumped by about 1,382 points after the IMF’s statement, even as some media reports—citing unnamed sources—claimed the next ~$1 billion tranche is on hold, a claim not confirmed by the IMF.