In this 2019 file photo, Reza Baqir, Governor of the State Bank of Pakistan (SBP), takes a question from a reporter (not pictured) during a news conference at the head office in Karachi. Reuters/File
WASHINGTON: State Bank of Pakistan Governor Reza Baqir on Thursday said that negotiations with the International Monetary Fund (IMF) on the 6th review of its $6 billion financial package were going smoothly.
Last month, the IMF also said it was holding open and constructive discussions with Pakistan on the 6th review and stood ready to support the country in achieving its objectives of debt sustainability.
In July 2019, the IMF had approved a 39-month $6bn arrangement for Pakistan under its Extended Fund Facility (EFF) to support Islamabad’s economic reform programme.
Pakistan and IMF s goals are aligned: Reza Baqir
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IMF and Pakistan s goals are aligned: SBP Governor Reza Baqir
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IMF and Seychelles Reach Staff-Level Agreement on a US$ 107 Million Arrangement under Extended Fund Facility
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Budget 2021-22: the real test has just begun
July 4, 2021
Governments usually breathe a sigh of relief once the annual budget is passed. Yet even though this year’s finance bill was accepted without much opposition from opposition benches when it finally came time to vote, Finance Minister Shaukat Tarin wouldn’t be as relieved as usual just yet. The reason, of course, is that the real test has just begun. Because the government now has two months to impress the International Monetary Fund (IMF) with the sudden turn around to a very expansionary fiscal policy, failing which it will most likely be curtains not just for the new budget and the new finance minister, but also the economy and the ruling setup.