Pakistan and IMF Remain in Communication for Sixth Review of EFF Program

Pakistani authorities are in communication with the International Monetary Fund over the sixth review of the Extended Fund Facility (EFF) program, Business Recorder reported on Tuesday. The two sides are engaged to conduct discussions on technical and data for the purpose, as stated by the International Monetary Fund’s (IMF) Resident Representative in Pakistan, Teresa Dabán Sanchez. She told the media, “We stand ready and looking forward to our continued discussions with the Pakistani authorities on the set of policies and reforms that could form the basis for the completion of the 6th review under the EFF”. Sanchez added that no statement could be issued until the end of the discussions, but the news report quoted sources in the Ministry of Finance as saying that the Minister of Finance, Shaukat Tarin, and the Finance Secretary have been holding closed-door discussions with the IMF team based in Washington via video conference. Minister Tarin will reportedly also visit Washington from 11 to 17 October for the annual meeting of the World Bank and the IMF. He is hopeful that he will be able to convince the IMF team to agree to an alternative plan for what had been decided regarding the power sector in February.