Pak set to resume talks with IMF next week to revive USD 6 billion loan package

TIL Desk/World/Islamabad/ Cash-strapped Pakistan is set to resume talks with the International Monetary Fund (IMF) next week for the revival of a USD 6 billion loan package, according to a media report on Sunday. The five-day round of technical discussions will virtually begin on October 4, with the IMF team joining from Doha, Qatar.

The successful conclusion of the talks would facilitate immediate disbursement of USD 1 billion by the IMF. Pakistan and the IMF had signed the USD 6 billion deal in July 2019 but the programme was derailed in January 2020 and restored briefly in March this year before again going off the track in June.

From June to August there were no serious discussions between the two sides. Sources said that Finance Minister Shaukat Tarin was keen to conclude the parleys on a positive note during face-to-face meetings with the top IMF management in Washington on October 15.

The IMF has not yet shown its willingness for face-to-face meetings and instead proposed virtual meetings for October 13 to 15. Therefore, the schedule of the policy-level talks remains tentative and it will be finalised next week, according to finance ministry sources.