\u201cAim [of talks] is to lay foundation of resilient economic growth that will benefit all Pakistanis,\u201d says Perez
\nISLAMABAD
\nThe International Monetary Fund\u2019s (IMF) Sunday has confirmed that it will be holding talks with Pakistani officials to discuss the \u201cnext phase of engagement\u201d in the coming week.
\n\u201cA mission team led by Nathan Porter, IMF\u2019s Mission Chief to Pakistan, will meet with [Pakistani] authorities next week to discuss the next phase of engagement,\u201d IMF\u2019s Resident Representative for Pakistan Esther Perez Ruiz said in a statement.
\nAs per the IMF official, the objective of the talks is to \u201clay the foundation for better governance and stronger, more inclusive, and resilient economic growth that will benefit all Pakistanis\u201d.
\nHer remarks come after an IMF support team reached Pakistan to hold talks regarding the South Asian nation\u2019s request for a fresh bailout package under the Extended Fund Facility (EFF) on Friday.
\nSources told Geo News that the team, during their stay which is expected to exceed 10 days, will receive data from different departments and will also discuss the upcoming budget for the fiscal year 2025 (FY2025), with the Ministry of Finance officials.
\nIt is to be noted that Islamabad has ought a next bailout package in the range of $6 to $8 billion for the three-year period under the EEF with the possibility of augmentation through climate financing, The News reported last month.
\nThe Washington-based lender, in its report issued earlier this month, had expressed doubts over Pakistan\u2019s ability to successfully repay the Fund.
\n\u201cPakistan\u2019s capacity to repay the fund is subject to significant risks and remains critically dependent on policy implementation and timely external financing,\u201d the IMF said in its report.
\nIt further stressed that: \u201cExceptionally high risks \u2014 notably from delayed adoption of reforms, high public debt and gross financing needs, low gross reserves and the SBP\u2019s net FX derivative position, a decline in inflows, and sociopolitical factors \u2014 could jeopardise policy implementation and erode repayment capacity and debt sustainability.\u201d
\nThe report highlighted that the country needed gross financing worth $123 billion during the next five years, adding that Pakistan was expected to seek $21 billion in fiscal year 2024-25 and $23 billion in 2025-26.
\nAs per the IMF, Islamabad is expected to seek $22 billion in 2026-27, $29 billion in 2027-28 and $28 billion in 2028-29.<\/p>\n","protected":false},"excerpt":{"rendered":"
\u201cAim [of talks] is to lay foundation of resilient economic growth that will benefit all Pakistanis,\u201d says Perez ISLAMABAD The International Monetary Fund\u2019s (IMF) Sunday has confirmed that it will be holding talks with Pakistani officials to discuss the \u201cnext phase of engagement\u201d in the coming week. \u201cA mission team led by Nathan Porter, IMF\u2019s […]<\/p>\n","protected":false},"author":2,"featured_media":406529,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-406496","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news"},"yoast_head":"\n