Finance Minister Miftah Ismail. — Geo News screengrab

IMF programme on track, not being postponed: Miftah Ismail

by Pakistan News
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Finance Minister Miftah Ismail. — Geo News screengrab

ISLAMABAD: Finance Minister Miftah Ismail Monday clarified that the $6- billion loan programme of the International Monetary Fund (IMF) is on track and there is no truth in reports that the lender has delayed it.

Sharing a report on his Twitter handle, Miftah Ismail announced: “I have been reading with some amusement all the tweets and stories about IMF programme being postponed or delayed due to some anti-corruption law.”

“The IMF programme is on track,” he added.

‘Pakistan has received MEFP from IMF’

On June 28,  Ismail said that Pakistan had received the draft Memorandum of Economic and Financial Policies (MEFP) from the International Monetary Fund for the combined 7th and 8th reviews.

The minister made the announcement on Twitter.

“Early this morning, the Government of Pakistan received a MEFP from the IMF for combined 7th and 8th reviews,” he tweeted.

The draft MEFP is a prerequisite for paving the way for moving towards striking a staff-level agreement.

The MEFP, can in a sense, be considered the crux of decisions negotiated between the two sides as it includes policy actions and structural benchmarks agreed upon between the two sides.

The staff-level agreement will then be presented before the IMF’s Executive Board next month for approval after which the tranche will be released.

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