Govt Rubbishes Rumors About IMF Program Being in Trouble

The Ministry of Finance has dismissed reports published in a section of the press suggesting that tough prior actions are needed for IMF’s $452 million third tranche. The ministry has described them as misleading and factually incorrect.

The Ministry of Finance said that “it is completely normal for quarterly reviews to sometimes take a few days more than planned, and it must not be viewed as something extraordinary.”

”The second and third quarterly reviews will be presented before the IMF board separately as planned. No decision has been taken as to any prior actions. China is Pakistan’s iron brother and there is no apprehension whatsoever on the roll-over/refinancing of Chinese loans,” read the statement.

The article published in certain media section is equally ill-conceived in trying to portray that only a miracle can save the IMF program.

The ministry further explained that the IMF staff team had constructive and productive discussions with the Pakistani authorities and commended them on the considerable progress made during the last few months in advancing reforms and continuing with sound economic policies. All end-December performance criteria were met, and structural benchmarks have been completed.

”The Finance Division will like to make it very clear that the Government’s reform program supported by the IMF’s Extended Fund Facility is on track.” added the statement.

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