Islamabad November 17 2022: Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar held an online meeting with Mr. Nathan Porter, IMF Mission Chief for Pakistan, today.
The two sides discussed the progress made with the ongoing IMF program, particularly the impact of floods on macroeconomic framework and targets for the current year.
IMF indicated its willingness to sympathetically view the targeted assistance for poor and vulnerable, especially flood affectees. It was agreed that expenditure estimates for flood related humanitarian assistance during the current year will be firmed up alongwith estimates of priority rehabilitation expenditure.
In this regard engagement at the technical level shall be expeditiously concluded for proceeding with the 9th Review. Finance Minister Senator Ishaq Dar reiterated GOP’s commitment to successfully completing the IMF program.
Pakistan 5-year Credit Default Swap (CDS) increased 383 basis points in a day to 7,933 basis points on Wednesday 16th November 2022 due to delay in negotiations with IMF for the release of next tranche amid declining reserves.
