IMF team due in Pakistan to discuss bailout package

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ISLAMABAD: A delegation of the International Monetary Fund (IMF) is due to arrive in Pakistan on Monday to further ongoing discussions on a bailout package.

Islamabad hopes that the bailout package will help stave off a balance of payments crisis

The IMF team will meet officials of the finance ministry, the Federal Board of Revenue (FBR) and the State Bank of Pakistan (SBP)..

The two sides will discuss the possibility of a $7 to $8 billion Fund Programme for Pakistan, Geo reported.

The visit comes three days Prime Minister Imran Khan met IMF Director Christine Lagarde on the sidelines of the second Belt and Road Forum in Beijing, China.

The Prime Minister was assisted by Foreign Minister, Makhdoom Shah Mahmood Qureshi, Adviser on Finance, Dr. Abdul Hafeez Shaikh and Adviser on Commerce, Mr. Abdul Razzaq Dawood.

The meeting reviewed the relationship between Pakistan and the Fund.

The PM identified the areas of reform and initiatives being undertaken by the government to stabilize the economy, control inflation and achieve fiscal balance.

The two leaders agreed on the importance of the Fund programme and to work towards an agreement for which an IMF delegation is coming to Islamabad.

The two sides agreed on the need for a social safety net for the vulnerable groups of the society.