IMF Mission Arriving in Pakistan Next Week to Discuss $1.5 Billion Climate Financing

Finance Minister Muhammad Aurangzeb on Thursday confirmed that a mission from the International Monetary Fund (IMF) will visit Pakistan on February 24 to negotiate the release of $1-1.5 billion in climate financing. Addressing the Retail Business Council, the finance minister said a second IMF mission is scheduled to arrive in March for a six-month review of the ongoing program. Aurangzeb reassured that all matters related to the IMF program are on track. He noted that the current account deficit turned negative for one month but remained positive for the seven-month period. He urged the need for careful economic growth to avoid falling into the boom-and-bust cycle, adding that structural reforms are essential to fixing the country’s economic framework.