Government may announce deal with IMF on Friday

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ISLAMABAD: The deal between the federal government and the International Monetary Fund (IMF) will most likely be announced by Friday.

According to source, the government has accepted most of the international money lender’s demands. Former finance minister Asad Umar had termed the conditions of the IMF harsh.

According to a report in The Express Tribune, both sides will hold a final meeting on Thursday. Pending issues such as the fiscal deficit and primary balance will be discussed between the two sides.

The two sides have also started to exchange the propose draft of the Memorandum of Economic and Financial Policies.

Sources in the Ministry of Finance were quoted in the report as saying that the country had no other option but to agree to the IMF’s deal to stay afloat.

If both sides reach an agreement, this will be the 22nd deal between the IMF and Pakistan. Islamabad already owes $5.8 billion to the international money lender on its previous loans.
The current loan size is expected to be around $6.5 billion.

Leader of the House in the Senate, Senator Shibli Faraz met IMF Mission Chief Ernesto Rigo at the Parliamet House on Wednesday.

He said that the IMF should keep in mind the ground realities of the country and the PTI’s position in parliament before finalising the agreement.

“The PTI is not in a position to carry out the legislation as per the demands of the IMF,” he said. “The IMF must realise this.”