Pakistan Talks Flood Relief IMF Loan
Pakistan, IMF Discuss Flood Recovery and Economic Targets
New York: Sources familiar with the talks say Pakistan and the International Monetary Fund (IMF) are in discussions not only about the country’s economic program but also about flood recovery and revenue-boosting measures.
The IMF team has already met with provincial officials to review proposals aimed at increasing provincial revenues, which could help fund relief packages for communities affected by recent floods. Officials also discussed the extent of flood-related damages with IMF representatives.
Final talks on the proposed relief packages are expected in the coming days. The discussions will also cover the release of the next $1 billion tranche under Pakistan’s loan program, following preparatory meetings by the country’s economic team yesterday to finalize the economic review.
Officials indicated that Pakistan will request flexibility from the IMF in meeting economic targets, pointing to setbacks caused by the devastating floods.
Earlier, Prime Minister Shehbaz Sharif met with IMF Managing Director Kristalina Georgieva on the sidelines of the 80th Session of the United Nations General Assembly in New York. The Prime Minister urged the IMF to take the flood impact into account during the ongoing program review, emphasizing that Pakistan had been making steady progress toward meeting its commitments under the IMF program.
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