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IMF team to visit Pakistan on April 29: finance ministry

April 26, 2019
 

File photo: Christine Lagarde

A delegation of IMF will arrive in Pakistan on a two-week visit on April 29, a spokesperson of the finance ministry said Friday.

The IMF team will meet the officials finance ministry official, FBR and State Bank, he added. The delegation will share with Pakistani officials its terms and conditions for a possible bailout package.

The federal government is hoping for a $6 billion bailout package from the IMF.

The development comes a few hours after Prime Minister Imran Khan met Christine Lagarde on the sidelines of Second Belt and Road Forum in Beijing on Friday.

Related story: PM Khan, IMF chief discuss comprehensive policy package in Beijing

“I was glad to meet Prime Minister Khan of Pakistan today in Beijing,” tweeted Christine Lagarde. “We discussed prospects for a comprehensive policy package and international financial support to help stabilize the economy of Pakistan.”

IMF wants Pakistan to cut fiscal deficits, reduce losses of state-run companies, a market-driven exchange rate, and a broadened tax base.

“We want the IMF team to visit Pakistan as early as possible to accelerate and complete the process,” Hafeez Shaikh, the new adviser to PM Khan on finance who replaced Asad Umar, told reporters on April 20.

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