• Wednesday, May 29, 2024

HEADLINE STORY

IMF team to visit Pakistan to review standby arrangement

The country is attempting an economic recovery under the caretaker government of prime minister Anwaar-ul-Haq Kakar

Caretaker prime minister Anwaar-ul-Haq Kakar (Photo by BANARAS KHAN/AFP via Getty Images)

By: Chandrashekar Bhat

AN International Monetary Fund (IMF) mission will visit Pakistan on November 2 to discuss the first review of the country’s current $3 billion standby arrangement (SBA), the lender’s resident representative said on Tuesday (24).

The south Asian nation is trying to navigate a tricky path to economic recovery under the caretaker government of prime minister Anwaar-ul-Haq Kakar in the wake of an IMF loan programme, approved in July, that helped avert a sovereign debt default. Under the programme, Pakistan received $1.2 billion from the IMF as the first tranche in July.

“An International Monetary Fund team led by Mr. Nathan Porter will field a mission to Pakistan starting in November 2 on the first review under the current Stand-By Arrangement,” the IMF’s resident representative to Pakistan, Esther Perez Ruiz, said.

(Reuters)

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