IMF has informally agreed to ease programme conditions: Miftah

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Miftah taxes

Finance Minister Miftah Ismail said on Friday that International Monetary Fund (IMF) Managing Director Kristalina Georgieva has “expressed agreement” with Pakistan’s request to ease the conditions imposed on the country under the Extended Fund Facility (EEF) programme.

Speaking to media, Miftah said the IMF official had also agreed to increase the amount Pakistan would receive in the next tranche. He added, however, that a “lot of negotiations” were yet to be held with the international lender.

Separately, while speaking to a TV channel, the finance minister said he had informed the IMF of Pakistan’s changed economic situation after the floods, the destruction of cotton crops and the difficulties the country would face in ensuring adequate wheat sup plies.

“They (IMF officials) understood our point and almost said yes but formal discussions will happen in two weeks when I go to Washington. The conditions will be relaxed keeping in view the situation and the amount of the tranche will also be increased,” he said.

Miftah said he also held meetings with World Bank officials, adding that the country would receive $2 billion from it this year.

“If Sindh’s entire cotton [crop] is destroyed after the floods, then we will have to import cotton crop.

 

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