The “next phase of engagement” will be discussed in the upcoming week, according to a statement released by the International Monetary Fund (IMF) on Sunday.
IMF’s Resident Representative for Pakistan Esther Perez Ruiz said in a statement that “a mission team led by Nathan Porter, IMF’s Mission Chief to Pakistan, will meet with [Pakistani] authorities next week to discuss the next phase of engagement.”
Lay the foundation for more effective government and stronger, more inclusive, and resilient economic development that will benefit all Pakistanis, according to the IMF official, is the goal of the negotiations.
Her comments follow the arrival of an IMF support team in Pakistan on Friday to discuss the South Asian country’s request for a new bailout package under the Extended Fund Facility (EFF).
According to reports, the team will meet with officials from the Ministry of Finance to discuss the impending budget for the fiscal year 2025 (FY2025) and gather data from several ministries during their anticipated longer-than-10-day trip.
It should be emphasized that, as The News revealed last month, Islamabad is due for another rescue package from the EEF, estimated to be worth between $6 and $8 billion over the course of three years, with potential for expansion through climate funding.
