ISLAMABAD – The federal government has removed several hurdles to secure a much-awaited bailout tranche from the International Monetary Fund (IMF), as the country is facing an economic meltdown.
Prime Minister Shehbaz Sharif, during his Paris visit, briefed Fund’s managing director Kristalina Georgieva on the economic outlook, in last-ditch efforts for the release of halted funds.
Following the premier’s meeting with Gerogieva, a breakthrough is expected as two sides are near to finalise a deal on the revival of the program.
All eyes are on the official announcement which is expected soon as talks between the Ishaq Dar-led team Finance Ministry and US-based lender are underway for the last couple of days.
Earlier, it was reported that the government is working to make changes in the budget, and now the country’s finance czar has started reviewing lenders’ demands.
To complete all demands, State Bank of Pakistan has also revoked all restrictions on imports as International Monetary Fund tabled this to unlock the funding.
Pakistan ‘keenly looks forward’ to IMF approval for 9th review: PM
